HPMT down after positive debut on Bursa

KUALA LUMPUR: HPMT Holdings Bhd debuted at 58 sen on Bursa Malaysia today, a 3.5% premium against its offer price of 56 sen.

However, at 10.51am, its shares were trading 5 sen or 9% lower at 51 sen with 53.81 million shares traded, giving it a market capitalisation of RM167.52 million.

HPMT is the second listing on the Main Market of Bursa Malaysia this year, which raised RM42.31 million.

The group is involved in the manufacturing and distribution of cutting tools, supporting equipment and accessories for metalworking as well as physical vapor deposition (PVD) coating services.

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