KUALA LUMPUR: Licensed pawnbroker Pappajack Bhd’s shares opened yesterday at 39 sen a share, a 9 sen or 30% premium over its subject worth of 30 sen a share.
Asserting its debut on the ACE Market of Bursa Malaysia, Pappajack managing director and CEO Lim Boon Jua stated the corporate was coming into a brand new part of development because the itemizing affirms its main place within the pawnbroking trade.
“Now we have come a good distance since we opened our first pawnbroking outlet in Klang, Selangor, and at the moment we’re proud to be the primary licensed pawnbroking group of corporations to be listed on the ACE Market of Bursa Malaysia.
“Now we have been working diligently since 2014 to develop our enterprise and at last, we’re seeing the fruits of our arduous work,” stated Lim in an announcement.
Pappajack had beforehand introduced that it intends to make the most of the proceeds of RM50.1mil from the preliminary public providing (IPO) for money capital and funding the growth of its retailers.
As well as, the corporate will purchase third-party pawnbroking retailers in Peninsular Malaysia to additional its growth.