JAYA PETALING: Securemetric Bhd appeared this year as the second best-performing product with a 114% premium in its debut on the ACE market in Bursa Malaysia.
Radiant Globaltech Bhd, which was listed in July, achieved the best result of 130.43%. Shares are currently listed at a 30% premium for an issue price of 23 weeks.
Securemetric shares increased sharply by as much as 31 dreams or 124% up to 56 dreams before closing 28.5 weeks or 114% higher by 53.5 points for 151.45 million shares traded, which gives market capitalization of 130.33 million RM .
The company's first public offering (IPO), which raised RM RM 17 million, was exceeded by 20.26 times. The price of its offer has been set at 25 persons per share.
From total income, 5.70 million RM will be used to develop new digital security solutions, RMB 16.16 million for working capital purposes and RM 1.70 million for business expansion. The remaining RM4.44 million will be used to repay loans and cover IPO costs.
Securemetric offers digital products and security solutions mainly in Southeast Asian countries, with local presence in Malaysia, Vietnam, Philippines, Indonesia and Singapore.
In the financial year ended December 31, 2017. Over 85% of its revenues came from the foreign market.