Steady debut for CIMB

CIMB "relieved" at the first day performance of its IPO on the Kuala Lumpur Stock Exchange.

CIMB, one of the leading investment banks in Malaysia, failed to sparkle on its trading debut on the KLSE yesterday closing at RM1.79, 0.04 sen higher that its listing price of RM1.75. The stock saw some initial enthusiasm from investors reaching an intra-day high RM1.90 a share before setting down at an average of RM1.79 for the rest of the day. Nevertheless, with RM225.4 million $59 million raised through a complicated sale process, the deal can be seen as something of a success.

Officers at the firm are said to be relieved that the IPO has been completed and that they can now get back to business...

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