Leon Fuat Berhad (LEONFB) closed at RM 0.615 on its debut

A total of 50,137,300 shares transacted on the first day of Leon Fuat’s trading debut in Bursa Malaysia main market. The shares opened at RM 0.635, or a premium of RM 0.35 above its offer price of RM 0.60, rose RM 0.015 to RM 0.614 or 2.50% before the market closed. 

Board	MAIN-MKT
Sector	IND-PROD
Stock Code	5232
Change	+0.015
Percentage Change	+2.50
Volume ('00)	501,373
Buy Volume ('00)	3,740
Buy	0.610
Sell	0.615
Sell Volume ('00)	1,277
Reference Price	0.600
Open	0.635
High	0.675
Low	0.610
Remarks	A s

Resources:

1. The Star - Leon Fuat opens up 5.4% to 63.5 sen on trading debut
2. The Edge - Leon Fuat diversifies offerings
3. The Malaysian Insider - Steel-based Leon Fuat debuts at 3.5sen premium

Leon Fuat IPO

According to the company's website, Leon Huat Berhad is primarily in the business of trading and processing of steel products, specialising in rolled long and flat products.

Initial public offering in conjunction with the listing on the main market of bursa malaysia securities berhad comprising:

(i) Public issue of 59,310,000 new ordinary shares (approximately 19.13% of enlarged issued and paid-up share capital) of RM0.50 each (“shares”) in the following manner:
• 15,500,000 new shares available for application by the public;
• 10,000,000 new shares available for application by our eligible directors, employees and persons who have contributed to the success of our group;
• 33,810,000 new shares by way of placement to selected investors;
and

(ii) Offer for sale of up to 31,000,000 existing shares (~10%) by way of placement to bumiputera investors approved by the ministry of international trade and industry, at an issue/offer price of RM0.60 per share, payable in full upon application.