KUALA LUMPUR: Integrated engineering supporting services provider, UWC Bhd made a strong debut on the Main Market of Bursa Malaysia, opening at RM1.10, which was 26 sen above its offer price of 82 sen.
At 9.02am, it was trading at RM1.19, up 37 sen with 31.57 million shares done.
The FBM KLCI was up 0.35 of a point or 0.02% to 1,683.22. Turnover was 81.38 million shares done valued at RM56.80mil.
Under its listing exercise, it offered 70 million new shares, of which 20 million units were offered to the public and were oversubscribed by 4.98 times. The vendors also offered 33.015 million existing shares to selected investors.
Upon its listing, its market capitalisation was RM300.77mil and a price-earnings multiple of 13 times.
UWC Bhd is riding on the wave of Internet of Things (IoT), 5G wireless broadband technology as well as the Internet of Medical Things (IoMT) as the group sees growth opportunities from these areas.
It is ramping up its production capacity and improving its production efficiency to support this demand.
In a recent interview with StarBizWeek , UWC group CEO Datuk Ng Chai Eng said the growing prominence of IoT was driving the development of connected “things”, which in turn increases the demand for semiconductors.
“Healthcare trends are also seeing the adoption of IoMT to monitor and carry out machine-to-machine communication using connectivity and sensor technology.
“We are optimistic of a steady growth from the life science and medical technology industry going forward,” he said.