Market Mover | Mega Fortris Berhad fell Over 2% on Its IPO Debut
On 11th November, 2024 - $MEGAFB (5327.MY)$ saw its shares fall more than 2% on its first trading day on Monday, dropping to RM0.655 from its initial issue price of RM0.67, with a turnover of RM42.58 million. Moreover, the public portion of its initial public offering (IPO) was oversubscribed by 7.18 times.
Significantly, Mega Fortris Berhad published its financial report for the first quarter of FY25 on 6th November. The report revealed that the company's revenue for the quarter reached RM49.16 million, with a net profit of RM8.23 million and earnings per share (EPS) of 1.18 sen.
MEGAFB specializes in security seals and is supported by two manufacturing facilities and an office located in Selangor, Malaysia, as well as 11 offices spread across 11 foreign countries as of the Last Practical Date (LPD). They possess in-house expertise that enables them to carry out end-to-end design and manufacturing of security seals. This includes identifying the specific needs of target markets and applications, product conceptualization, design and prototyping, and manufacturing.
The funds raised, totaling RM99.074 million, will be allocated towards several key areas: new production facilities with automated production lines for security seals in the UK, new business ventures in providing total solutions for supplying and handling playing cards in sealed security boxes in Macao, and listing expenses.
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Losing Screw : Company doing well, but no one goreng. Those who allotted for IPO and sold at lost are![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
102143912 : Fortunately didnt get this ipo
103578731 Losing Screw : $BM Technologies (BMTX.US)$
Losing Screw 103578731 : US stock is very sensitive to "good" news and "bad" news. The company performance and earnings are most of time not tally with share price increment in short term.
101726022 :
101726022 :
101726022 : only 34% offer to the public , how to play , I think this share can't go higher up.