Summary
- RedPlanet shares open at RM0.27, up 42.11% from IPO price.
- Company raises RM13.3 million through its public offering.
- Funds will support business expansion and infrastructure projects.
KUALA LUMPUR, October 26 — RedPlanet Berhad made its debut on Bursa Malaysia’s ACE Market on Thursday, with shares opening at RM0.27, a 42.11% premium over its initial public offering price of RM0.19.
The enterprise ICT solutions provider transferred from the LEAP Market, where it had been listed since August 2020.
RedPlanet raised RM13.3 million through the issuance of 70 million new shares, allocating RM8.12 million for expansion and RM2.38 million for working capital.
Managing Director Lian Wah Seng said the funds would support larger infrastructure projects and strengthen the company’s geospatial technology and intelligent rail solutions.
