KUALA LUMPUR: Haily Group Bhd shares opened at 79 sen today at the opening bell, an 11 sen premium or 16.18 per cent higher than its initial public offering (IPO) price of 68 sen on its debut on Bursa Malaysia's ACE Market today.
The first traded volume stood at 7.19 million shares.
The stock, however, could not keep the momentum to end its maiden day 6.33 per cent or half a sen lower at 74 sen.
Haily was among Bursa's top 10 most active counters.
Speaking at its listing ceremony, chairman Mohd Jaffar Awang said Haily planned to continue focusing on its core competency in building construction in Johor while leveraging on its experience to extend its reach to the other districts.
The listing marked an important milestone as it brought the company to greater heights from its humble beginnings, Mohd Jaffar added.
"I believe that the listing exercise will help to unlock our potential by enhancing our reputation as we market our construction services and expand our customer base in Malaysia."
Haily is a main contractor involved in building construction of residential and non-residential buildings in Johor.
It is also involved in the rental of construction machinery.
"Our company will be able to leverage on our capabilities as a Grade G7 contractor which allows us to bid and carry out any size of building construction projects irrespective of the contract value," Mohd Jaffar said.
He said Haily had completed 65 building construction projects with a total contract value of RM1.29 billion since 2008.
"We have on-going projects that can sustain us at least until 2023. Currently, we have 18 building construction projects as well as two civil engineering-related construction projects.
"The total secured contract value and unbilled contract value as at June 10 2021 stood at RM460.04 million and RM249.58 million respectively," he said.