Hartanah Kenyalang debuts flat on ACE Market
The stock remained flat at 16 sen, with a total of 14.55 million shares traded as of 10:28 a.m.
Hartanah Kenyalang's initial public offering (IPO) raised RM19.34mil. The company is allocating RM3mil from the proceeds to purchase new machineries and IT related hardware and software; RM10.5mil for project working capital; RM2.1mil for loan repayment and RM3.8mil for listing expenses.
In the first quarter ended Jan 31, Hartanah Kenyalang posted a net profit of RM1.9mil, or earnings per share of 0.38 sen on revenue of RM44.8mil.
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