Cheeding’s stock price nearly doubles in its first ever trade on ACE Market
KUALA LUMPUR (Oct 7): Cheeding Holdings Bhd (KL:CHEEDING) surged in its first ever trade on the ACE Market, amid strong demand from investors for a piece of the utilities engineering services firm.
Shares of Cheeding opened at 70 sen compared to its initial public offering (IPO) price of 36 sen per share. Cheeding rose to as high as 78 sen and was trading at 73 sen at 9.05am, after nearly 53 million shares changed hands. At the last price, the company had a market capitalisation of RM581 million.
