Malaysian ISP debuts on NZAX market - shareprice rises
UPDATED Wednesday: Shares in Malaysian-based ISP MyKris have risen in their first 24 hours of trading.
UPDATED Wednesday: Shares in Malaysian-based ISP MyKris have risen in their first 24 hours of trading.
Two trades, for a total of 25,000 shares have gone through at 28c a share, up from the company's Tuesday debut price of 25c a share.
MyKris Limited, a Malaysian based Internet Service provider has become the first stock exchange listing of the year, joining the NZAX at noon today.
It was sponsored to list by Investment Research Group (IRG) which has provided investment banking services in exchange for shares.
MrKris shares debuted at 25c each and have yet to trade. [NZAX:MYK]. Almost 60 million shares have been issued giving the company a value of $15 million.
IRG and MyKris director Brent King said on Friday (when announcing the pending listing) that MyKris has “strong profits and it is operating in fast growing economies of Singapore, Malaysia and Hong Kong”.
“There simply are not sufficient options for New Zealanders to invest in this region without using expensive structures. We hope to be able to bring other options in the future” he said.
“The past 2 years haven’t been great for listings however we expect to increase our activity in this area over the next 12 months.”
IRG shares last traded on the NZAX on December 16 at 0.06 cents each.
NBR staff
Tue, 10 Jan 2012
Tue, 10 Jan 2012
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Malaysian ISP debuts on NZAX market - shareprice rises
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