Sign in Subscribe
Stock prices

PEOPLElogy Bhd Makes Modest Debut on Bursa Malaysia's ACE Market

Strategic Insights

— 1 min read

Peoplelogy Bhd, a human capital development solutions provider, made a modest start on the ACE Market of Bursa Malaysia yesterday, opening below its initial public offering (IPO) price of 25 sen. Despite this, the stock rebounded to 26 sen, a four per cent increase, on active interest, with trading volume rising to 21.1 million shares. PEOPLElogy aims to tap into the growing demand for future-ready workforce solutions across Southeast Asia and has plans to use the proceeds from the listing for business expansion, platform development, and working capital.

Key Takeaways:

  • PEOPLElogy Bhd is the 21st company to list on the Bursa Malaysia this year, following a trend of subdued first-day trading performances.
  • The company's IPO involved the public issuance of 167.84 million new shares, raising RM41.96 million, which will be used for business expansion, platform development, and working capital.
  • PEOPLElogy focuses on upskilling and reskilling programs for individuals and organizations, aligning with Malaysia's push towards digital and knowledge-based talent development.
  • The company aims to positively impact 10 million lives through innovative and transformative learning solutions.
  • The IPO was oversubscribed by 1.24 times, with 1,940 applications for 25.5 million new issue shares from the Malaysian public.
  • For the Bumiputera portion, 878 applications were submitted for 10.1 million new shares, reflecting a subscription rate of 0.98 times.
  • For the remaining portion for other Malaysian investors, 1,062 applications were submitted for 15.4 million new issue shares, translating to a subscription rate of 1.50 times.

Statistics:

  • 1.3 million shares changed hands in early deals.
  • The stock prices rebounded to 26 sen, a four per cent increase.
  • Trading volume rose to 21.1 million shares by 9.23am.
  • At market close, the counter ended at 26.5 sen, up 1.5 sen or six per cent.
  • Nearly 48 million shares were exchanged at market close.
  • PEOPLElogy is the 21st company to list on Bursa Malaysia this year.

Sources:

  • Business Times (Singapore), "Peoplelogy Bhd starts trading on Bursa Malaysia, shareholders encouraged to hold on"
  • Bursa Malaysia, "Peoplelogy Bhd Listing"

Read more