Sancy debuts at 26 sen on LEAP Market

From left: Sancy Bhd non-executive chairman Shahril Shamsuddin striking the gong to signal the start of trading. With him are group managing director Izhar Che Lee, group CEO Prabuddha Kumar Pronob Chakravertty and Astramina Advisory Sdn Bhd managing director Wong Muh Rong.

The listing price of 12 sen per share was determined by the implied price-earnings multiplier of approximately 24.5 times based on the average profit guarantee per annum of RM3.33 million. CEO Prabuddha Kumar Pronob Chakravertty expects the Ideas platform to contribute to the its targeted double-digit growth for both top and bottom lines in FY24, it said in a statement today.

As part of the listing exercise, Sancy had secured Shahril Shamsuddin and his vehicle Sapura Capital Sdn Bhd as its strategic shareholder. Collectively, they hold RM13.27 million for a 20.25% stake. Shahril will also be serving as non-executive chairman of Sancy.

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