Asdion Shines On Debut

13-01-2005

13 January 2005 - Back-office enterprise applications provider Asdion Bhd nearly doubled its 50 sen offer price at its debut on the Mesdaq Market on Jan 13.

Asdion opened at 96.5 sen, a 46.5 sen premium over the offer price. By 9.30am, the share price eased to 86 sen, but still 36 sen or 72% higher, with over 7.5 million shares.

"The opening price was out of my expectation; I thought it would be higher than 50 sen, but not 96.5 sen," its group managing director Yap Tai Tee told reporters after the ceremony at Bursa Malaysia marking Asdion's debut.