TEOSENG-WA: Affected by lacklustre debut of Leong Hup International

Written by Editor

Teo Seng Capital Berhad’s share attracted investors’ interest in the earlier part of May 2019, reaching a 52-week high of RM1.43 on 9thMay following stronger earnings and in anticipation of the debut of the biggest IPO of the year of Leong Hup International Berhad.  Teo Seng Capital is a subsidiary of Leong Hup International.  However, after Leong Hup International made a less than impressive debut on Bursa Malaysia and sliding below its IPO price, the mother share and warrant of Teo Seng Capital came under heavy selling pressure.  This was also not helped by Leong Hup International disposing Teo Seng Capital shares in the open market in the middle of the month.  Teo Seng Capital share and warrant ended trading on 28th May at RM1.05 and 24.5 sen respectively.

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