Samurai 2K Aerosol up by as much as 37.5% in debut trading

SHARES of aerosol coating specialist Samurai 2K Aerosol jumped by as much as 37.5 per cent above its initial public offering price on the first day of trading on the Catalist on Monday.

The shares began trading at 25 Singapore cents on Monday, then rose to 27.5 Singapore cents at 9.10am, its highest price thus far.

This is above its IPO placement price of 20 cents. Some 100 million shares were placed.

The shares then fell to 24.5 cents apiece at 11.15am, its lowest price thus far.

Established in 1997, Samurai 2K is a Malaysia-based aerosol coating specialist with a focus on coating solutions for the automotive refinishing and refurbishing industry.

The company manufactures, distributes and markets its products under its own brands to customers in South-east Asian markets including Malaysia, Indonesia, Thailand and the Philippines.