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Bursa's first 2015 IPO Bioalpha soars on debut

Health supplements maker shrugs off economic uncertainties, weak sentiment to rise 35%

Published Tue, Apr 14, 2015 · 09:50 PM

Kuala Lumpur

AMID the economic uncertainties of a global oil price slump and weak market sentiment, Bursa Malaysia finally ushered in its first initial public offering (IPO) for the year in integrated health supplements manufacturer Bioalpha Holdings.

Bioalpha soared 65 per cent on its debut on the ACE market on Tuesday, as investors sought a piece of the company controlled by the Minister of Finance Incorporated, before closing the day at 27 sen for a 35 per cent gain. The finance ministry holds an indirect 51.4 per cent stake, with 22.4 per cent of it held by state investment agency Khazanah National.