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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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Scams happen all the time and unscrupulous individuals prey on the unassuming. Always be wary that it might happen to you as this happens more often than you think. We would like to caution members of the public to be wary of fraudulent individuals impersonating as Kenanga representatives providing fake products or services.
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.