Keyfield opens at RM1.70 for 89% premium in debut on Main Market

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KUALA LUMPUR: Keyfield International Bhd made its debut on the Main Market of Bursa Malaysia Securities today, opening at RM1.70 per share, representi...

From left: Keyfield International directors Chia Chee Hoong, Lim Chee Hwa, Julannar Abdul Kadir, group COO Mohd Erwan Ahmad, Kee, chairperson Haida Shenny Hazri, Bursa Malaysia CEO Datuk Muhamad Umar Swift, M&A Equity Holdings Bhd managing director Datuk Bill Tan, Maybank investment banking group group CEO Michael Oh-Lau and M&A Securities Sdn Bhd corporate finance head Gary Ting at the listing ceremony.

In addition, RM26.6 million has been earmarked to repay bank borrowings, for working capital and listing-related expenses. “With our fleet of 11 Malaysian-flagged vessels and access to third-party vessels, Keyfield is well-positioned to support the local oil and gas industry,” he told reporters during a press conference after its listing ceremony.) has been acquired in January. So we're still looking at negotiating and considering the right vessels to acquire or to ,” he said.

“Some of the vessels are for four to six months, so we plan for jobs in the months of July or August. We are also continuously seeking third-party vessels and also for overseas vessels where we try to convince them to charter to Malaysia,” he added.

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