ListedMain Market· 5325

Well Chip Group IPO

Financial Services, Other Financials. Offered at RM1.15 a share, listed on 23 Jul 2024.

Offer price

RM1.15

Shares offered

150.0m

RM173m at offer

Market cap at listing

RM690m

Offer period

26 Jun 2024 to 10 Jul 2024

Listing date

23 Jul 2024

Principal adviser

Kenanga Investment Bank Berhad

Timeline

Offer opens
26 Jun 2024
Offer closes
10 Jul 2024
Balloting
Done
Listed
23 Jul 2024

Oversubscription

12.9×

Public applications for 12.9 times the shares on offer, 13,057 applications.

First day of trading

+43.5%

Opened above the offer price, closed +49.6% on day one.

About Well Chip Group

Well Chip Group Berhad is an investment holding company principally engaged in pawnbroking services and the retail and trading of jewellery and gold, operating 23 pawnshops and 4 retail outlets predominantly in Johor, Malaysia.

First-day forecast

CISCOM's forecast for Well Chip Group is available to Pro members.

Every IPO gets a projected first-day range and a probability of opening above the offer price, built from the most similar past listings on Bursa Malaysia. Across 246 IPOs in the walk-forward back-test, the model called the first-day direction right 74% of the time. Educational estimates, not investment advice.

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Facts on this page come from Bursa Malaysia announcements, the prospectus and issuing-house press releases, and can change. CISCOM is an educational service and does not provide investment advice. Past performance does not guarantee future results. Consult a licensed adviser before investing.