Ranhill makes poor debut on Bursa M'sia

Kuala Lumpur

BURSA Malaysia's first listing for the year Ranhill Holdings Bhd made a poor debut on the stock exchange on Wednesday, opening below its RM1.20 (40 Singapore cents) offer price before ending 16 per cent lower at RM1.01.

The feeble performance follows on the heels of retail subscribers being returned RM0.50 or nearly a third of the subscription price after a book-building exercise set the institutional price at RM1.20 a share against the RM1.70 paid by retail subscribers on applying for the initial public offering (IPO).