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Pappajack Berhad Debuts on ACE Market of Bursa Securities
- KIBB is the principal adviser, sponsor, sole underwriter and sole placement agent for Pappajack’s IPO
- Oversubscribed by 21.73 times with the IPO price at RM0.30
- Timeline : 11 March 2022 (Opening of IPO Application); 18 March 2022 (Closing) ; 23 March 2022 (Balloting); 30 March 2022 (Allotment); 1 April 2022 (Listing)
- The public issue raised RM50.1 million of which utilisation of proceeds as follows:
| Description of Utilisation | Estimated Timeframe for Utilisation Upon Listing | Amount (RM ‘000) | Percentage (%) | |
|---|---|---|---|---|
| i. | Expansion of pawnbroking outlets | Within 12 months | 19,220 | 38.36 |
| ii. | Cash Capital for our existing 20 pawnbroking outlets | Within 12 months | 27,080 | 54.05 |
| iii. | Estimated Listing Expenses | Immediate | 3,800 | 7.59 |
| Total Public Issue Proceeds | 50,100 | 100.0 |
Highlight of 1st Day Trading
- Closed at RM0.395
- 31.67% premium over IPO price of RM0.30
- 1st day closing with the market capitalisation is about RM263.86 million
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Important notice: Kenanga Investment Bank Berhad is not engaged or involved in the pre-listing and/or listing exercise of QMIS TBS Capital Group Corporation in Nasdaq
Please be informed that Kenanga Investment Bank Berhad is not engaged or involved in the pre-listing and/or listing exercise of QMIS TBS Capital Group Corporation in Nasdaq, nor do we have any business arrangement or partnership with QMIS TBS Capital Group on the said exercise.