The final IPO of Bursa Malaysia in 2024 saw VStar Capital surge by 46%.
VStar Capital $WINSTAR (0336.MY)$ Jumping on the last bus at the end of the year, it opened with a bang on its first day of trading, surging by 46% or 16 sen, finally closing at 51 sen.
V Star Capital opened strongly at 49 cents this morning, with a 40% premium over the IPO price of 35 cents, or 14 cents, with the first transaction volume of 4.78 million shares.
The CEO, Mr. Cai Wenfeng, expressed to the media after the bell-ringing ceremony: "We are delighted with today's impressive stock price performance, which is largely due to the strong support from the market investors, enabling us to achieve such excellent results."
The stock price on its first day of listing once climbed to 56.5 cents, a 61.43% increase over the IPO offering price of 35 cents, or 21.5 cents.
Although the stock price later experienced a slight retreat, it closed at 51 cents at the end of the day, with a premium of 16 cents or 45.71%, and a trading volume of 82.36 million shares, making it the second hottest stock of the day.
At the same time, Cai Wenfeng is also confident in the company's prospects after listing.
He explained: "The booming development of domestic construction and property, as well as the potential opportunities for solar energy projects brought by the National Energy Transition Plan (NETR), are all favorable factors that can drive the company's growth."
"We believe that the company will be able to adapt quickly to market changes, develop new products, and expand into new niche markets."
The rise in aluminum prices is beneficial to the core business.
VStar Capital is a holding company with four subsidiaries, namely VStar Venture, VStar Asset Management, VStar Philanthropy Foundation, and VStar Financial Services, covering a wide range of industries such as asset management, venture capital, philanthropy, and financial services.

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