Catcat stock rose 168% when Kucingko went public

Catcat stocks were strong, and the animation company Kucingko (KUCINGKO, 0315, GEM) went public on the first day. The stock price trend was strong. The opening price was 80.5 cents, which was 30 cents compared to the initial public offering (IPO), and the premium was as high as 168.33%.

Kucingko, which specializes in 2D animation production, is the first animation company in the Malaysian stock market. It is highly sought after by investors. Previously, it was oversubscribed by 99.02 times. The highest since the opening of the stock rose to 84 cents, and the premium compared to the sale price was as high as 180%.

However, the stock price later retracted. As of 11:00, it was reported at 58 cents, but it was still 28 cents, or 93.33%, compared to the IPO price.

In the face of strong stock price trends, Executive Director Shi Zhenyu is very excited and believes that the outside world is looking forward to Kucingko.

“I'm very excited right now. I think the outside world is expecting a lot from Kucingko, which reflects the strong opening price. Of course, everyone wants the stock price to stay high for a long time, but the current performance shows market confidence.”

Regarding the performance of the Malaysian animation industry, he believes that the Malaysian animation industry is currently booming. Over the past few years, the government has spared no effort to promote this industry, and there are many local companies in the market that connect with foreign companies, such as Kucingko.

“We are also cooperating with the state government to establish a talent pool and train more animation professionals. The staff reserve will expand from the current 262 to 510.”

As for the outlook for the second half of the year, he believes the focus will be on execution.

“We will carefully implement our plans to achieve the full potential of our previous plans, and 2025 is an even more exciting year for Kucingko. ”

Kucingko's executive director Huang Guofeng, independent directors Lin Zuoyi, Liu Shuying, Pan Jinzhong, non-independent non-executive directors Qiu Jialun, Ke Meifang, Kenag Investment Bank, and Dato' Roslan, attended the listing ceremony.