MSC makes SGX debut at RM4.30
SINGAPORE, Jan 27 — Shares of Malaysia Smelting Corp (MSC) opened slightly above their offer price on their Singapore debut today, helped by the generally bullish outlook for commodity prices.
Around 9.02am, MSC shares were being traded at S$1.80 (RM4.30) after opening at S$1.78, a touch higher than the Singapore offer price of S$1.75 a share.
Shares of the Kuala Lumpur-listed firm, which is involved in tin mining and smelting, closed 1.4 per cent lower yesterday at RM4.81, or about S$2.06, a share.
MSC, whose majority shareholder is Singapore’s Straits Trading Co, raised net proceeds of S$40.1 million in a Singapore secondary offering last week. — Reuters