Dang (centre) and other board members of Bison ringing the gong to signal the company’s successful listing on the main market yesterday.
KUCHING: Media player Bison Consolidated Bhd (Bison) successfully listed on the main market of Bursa Malaysia yesterday, opening at a two sen discount to its retail price of RM1.10 per share with 2.2 million shares exchanging hands.
The stock closed at a high of RM1.17, a rise of 7 sen or 6.36 per cent from its opening price, with a total of 68.48 million shares traded yesterday.
The group is an an investment holding company involved in the business of press and convenience retailing under its main trade name of ‘myNEWS.com’.
The market presented a strong demand for Bison’s shares, when its 15.5 million new shares which were made available for the Malaysian Public were oversubscribed by 6.94 times.
The listing of Bison’s shares raised RM88.68 million for the group based on the final retail price of RM1.10 per share. RM35.55 million or 40.1 per cent will be utilised for the purpose of outlet expansion and enhancing the group’s existing outlets.
Speaking at the listing ceremony earlier this morning, Bison managing director Dang Tai Luk said, “Being able to obtain such an overwhelming response from our retail investors is great news for the Group which started out as a humble newsstand 19 years ago.
“These funds which are entrusted to us will be put into good use to ensure we achieve our future plans and further expand our presence nationwide. Today marks a new corporate journey for us and we are excited to embark a step forward towards our next phase of growth,” Dang commented.”
CIMB Investment Bank Bhd is the principal adviser, managing underwriter and sole bookrunner for the listing of Bison.