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 Proceeds50,100100.0

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