Hallie Sanchirico
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(Kuala Lumpur, 26th) With the market cap surging along with the stock price, 99 Speed Mart ( $99SMART (5326.MY)$ ) and Genting Malaysia ( $GAMUDA (5398.MY)$ ) are estimated to break into a new round of index constituent stocks list, while the Genting giants face the fate of both being ruled out.
According to Bloomberg data, as of the close of 25th, which is also the time in the second half of the year when FTSE Russell reviews the top 30 constituent stocks by market cap, 99 Speed Mart's market cap has risen to 25th place on the Malaysian market, highly likely to become one of the new index constituent stocks, while Genting Malaysia's market cap ranks 16th, securing its spot.
MIDF research analyst pointed out that 99 Speed Mart closed at 2.38 ringgit yesterday, with a market cap of 19.99 billion ringgit, firmly ranking 25th in the Malaysian stock market cap list.
Although 99 Speed Mart has not disclosed the details of its post-listing equity structure, based on the public shareholding ratio of 17% in its initial public offering (IPO) plan, the stock should now meet the free trade share ratio requirement of the composite index constituents.
The main board's flagship "cheap and convenient" chain of mini-supermarkets, 99 Speed Mart, just listed on September 9th this year. At the time, the IPO price was 1.65 ringgit per share, and as of the close of trading on the 25th of this month, it had surged by 44.85%.
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According to Bloomberg data, as of the close of 25th, which is also the time in the second half of the year when FTSE Russell reviews the top 30 constituent stocks by market cap, 99 Speed Mart's market cap has risen to 25th place on the Malaysian market, highly likely to become one of the new index constituent stocks, while Genting Malaysia's market cap ranks 16th, securing its spot.
MIDF research analyst pointed out that 99 Speed Mart closed at 2.38 ringgit yesterday, with a market cap of 19.99 billion ringgit, firmly ranking 25th in the Malaysian stock market cap list.
Although 99 Speed Mart has not disclosed the details of its post-listing equity structure, based on the public shareholding ratio of 17% in its initial public offering (IPO) plan, the stock should now meet the free trade share ratio requirement of the composite index constituents.
The main board's flagship "cheap and convenient" chain of mini-supermarkets, 99 Speed Mart, just listed on September 9th this year. At the time, the IPO price was 1.65 ringgit per share, and as of the close of trading on the 25th of this month, it had surged by 44.85%.
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Hallie Sanchirico
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Hallie Sanchirico
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$NVIDIA (NVDA.US)$ Earned breakfast money and slipped away, the result is still there, don't be greedy when there's nothing wrong!
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If TENAGA falls below this price, escape for your life!
$TENAGA (5347.MY)$
If TENAGA falls below this price, escape for your life!
$TENAGA (5347.MY)$
If TENAGA falls below this price, escape for your life!
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