Market Mover | HAWK Surged Over 133% on Its IPO Debut
September 5, 2024 - Steel Hawk $HAWK (0320.MY)$ experienced a remarkable 133% increase in its stock price on its first day of listing on Thursday, soaring to RM0.35 from an initial issue price of RM0.15. Moreover, the public portion of its initial public offering (IPO) was astonishingly oversubscribed by 276 times; the highest subscription rate so far this year.
Significantly, Hawk published its financial report for the second quarter of 2024 on August 29. The report revealed that the company's revenue for the quarter stood at RM19.29 million, with a net profit of RM3 million and an earnings per share (EPS) of 0.61 sen.
The company is principally involved in the provision of onshore and offshore support services for the O&G industry. Based on the size of the OGSE industry in Malaysia of RM26.20 billion in 2023, Steel Hawk Group’s revenue of RM72.54 million for FYE December 31, 2023 represents a 0.28% market share of the OGSE industry in Malaysia in 2023.
The funds raised, totaling RM13.5 million, will be allocated towards several key areas: construction of the proposed Teluk Kalung Facility 2, working capital, repayment of bank borrowings, and estimated expenses for the transfer.
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101718838 : any idea how speedmart will perform?
Thudercats : How is the increase of 230% calculated?
我系李生 : why do you use the 0.11 price to calculate the increment instead of IPO price 0.15?
我系李生 我系李生 : $SKHAWK (03049.MY)$
looliang Thudercats : Probably another miscalculation…![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Moomoo IPO Hub OP 我系李生 : Dear mooer, the data issues have been corrected, thank you for your feedback. I wish you a pleasant investment experience.
Moomoo IPO Hub OP Thudercats : Dear mooer, the previous calculation was based on the closing price of $SKHAWK (03049.MY)$ . The related data issues have now been corrected. Thank you for your feedback, and I wish you a pleasant investment experience.
104266827 我系李生 : maybe listing price lower than IPO price
104955197 : Commission is claimed.