IFCA MSC BERHAD MADE ITS DEBUT ON THE MESDAQ MARKET OF THE KUALA LUMPUR STOCK EXCHANGE

IFCA MSC Bhd signed an underwriting and placement agreements yesterday with OSK Securities Bhd for its proposed listing on the Mesdaq market of the KLSE. IFCA MSC Berhad (IFCA), which Public Issue shares was oversubscribed by 20.03 times was successfully listed on the MESDAQ Market of the Kuala Lumpur Stock Exchange on 30 July 2003. The listing was well received by the market as it started trading with an impressive premium of 16-sen or 80% over the IPO price of 20-sen.

IFCA offered a Public Issue of 72.43 million new ordinary shares of RM0.10 each at an issue price of RM0.20 per ordinary share. The listing exercise raised RM14.5 million, which will be utilised for overseas investment, R&D expenditure, renovating, upgrading of PCs and other office equipment, working capital and the listing expenses.

The listing of IFCA is a recognition of our achievements and it also marks a significant mile stone in IFCA’s history.

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