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Asdion Shines On Debut


13 January 2005 - Back-office enterprise applications provider Asdion Bhd nearly doubled its 50 sen offer price at its debut on the Mesdaq Market on Jan 13.

Asdion opened at 96.5 sen, a 46.5 sen premium over the offer price. By 9.30am, the share price eased to 86 sen, but still 36 sen or 72% higher, with over 7.5 million shares.

"The opening price was out of my expectation; I thought it would be higher than 50 sen, but not 96.5 sen," its group managing director Yap Tai Tee told reporters after the ceremony at Bursa Malaysia marking Asdion's debut.

Source: theedgedaily.com/cms/content.jsp?id=com.tms.cms.