Serba fails to sustain intraday high in Bursa debut

Kuala Lumpur

OIL and gas engineering solutions provider Serba Dinamik Holdings Bhd rose to an intraday high of RM1.59 or 6 per cent upon its debut on the main board of Bursa Malaysia on Wednesday, but shed most of its gains to close only two sen higher amid a lacklustre market and continuing investor cautiousness towards the sector.

At any other time, investors would have leapt at the opportunity to own the stock, given valuations as high as RM2.25 against its offer price of RM1.50 apiece.