MYMBN flies high with 33% premium on ACE Market debut

PETALING JAYA: Bird’s nest processing company MYMBN Bhd made a strong debut on Bursa Malaysia’s ACE Market today, with its shares opening at 28 sen, a 33.33% premium over its initial public offering price of 21 sen.

An additional 18.68 million shares made available to eligible directors and employees of MYMBN were also fully subscribed. MYMBN expects to raise RM20.58 million from its IPO via the issuance of 98 million shares at 21 sen per share, according to its filing with Bursa Malaysia. Additionally, RM1.25 million has been allocated to expand the processing and selling of raw, clean edible bird nests, RM2.05 million is set aside for working capital while the remaining RM3 million is earmarked for listing costs.

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