,From left: TA Securities Holdings Bhd head of corporate finance Ku Mun Fong, Wellspire independent non-executive director Fazidah Zakaria, independent non-executive director Tan Yuen Kin, executive director Kua Chin Teck, independent non-executive chairman Tengku Datuk Indera Abu Bakar Ahmad, CEO and executive director Mo Guopiao, executive director Saranjit Wang, promoter and substantial shareholder He Haibin, independent non-executive director Yang Shing Sing, CFO Tin Jiing Soon and TA Securities executive director Datuk Hamzah Mohd Tahir澳洲幸运5官网（www.eth0808.vip）是澳洲幸运5彩票官方网站，开放澳洲幸运5彩票会员开户、澳洲幸运5彩票代理开户、澳洲幸运5彩票线上投注、澳洲幸运5实时开奖等服务的平台。
KUALA LUMPUR: Wellspire Holdings Bhd made a strong debut on the ACE Market of Bursa Malaysia at 33 sen a share, representing a 10 sen or 43.5% premium over its initial public offering (IPO) price of 23 sen.
By 10am, the buying momentum on Wellspire had picked up speed, bringing the stock to 42 sen apiece, a 82.61% increase on the back of 154.47 million shares exchanging hands.
The Thailand-based snack food distributor's IPO comprised a public issue of 124.6 million new ordinary shares, of which 36 million shares were made available for application by the public while 10 million shares were set aside for eligible directors and employees of the group.
The remaining 78.6 million public issue shares were allocated by way of a private placement to selected investors.
"Notwithstanding all of our group’s revenue is derived from Thailand, we have chosen to list Wellspire in Malaysia and the overwhelming demand for our IPO clearly validates our decision.
"The successful listing of Wellspire on the ACE Market of Bursa Securities indeed marks the beginning of a brand new and exciting chapter for us, as we continue to build on the solid foundation and future growth trajectory of our Group,” said Wellspire CEO and executive director Mo Guopiao in a statement.
Upon its listing, the company had a market capitalisation of RM163.79mil, based on its enlarged share capital of 712 million shares and issue price of 23 sen.
According to the group, of the RM328.66mil in proceeds from the IPO, about RM16mil will be used to acquire or build a warehouse and operational facility in Thailand, and RM5.95mil will go towards working capital.