KUALA LUMPUR: Panda Eco System Bhd, a home-grown retail management solutions provider, debuted on the ACE Market of Bursa Malaysia Securities Bhd today at an 81 per cent premium to its initial public offering price of 16 sen a share.
As at 11.36am, it was the most actively traded stock, trading at a 62.5 per cent premium to its reference price, at 26 sen. Some 164.7 million shares were traded.
As a retail management solutions provider, the group is primarily involved in the development, customisation, implementation, and integration of retail management eco-system for its customers.
The group's in-house developed retail management eco-system caters to small to large retail chains.
Its solutions are currently adopted by over 1,400 retail stores across Peninsular Malaysia, Sabah and Sarawak, Batam and Brunei.
"The retail industry is constantly undergoing transformative shifts driven by changing consumer expectations, technological advancements and intensified competition. To remain relevant and ahead of the curve, retailers must embrace technology and implement robust solutions to enhance their operations. This is where Panda Eco System can assist them. Our solutions aim to facilitate efficient expansion and scalability, supporting retailers in overcoming the complexities inherent in the industry and meeting the dynamic expectations of both consumers and suppliers," Panda Eco System executive director / chief executive officer Loo Chee Wee said in a statement today.
Panda Eco raised RM17.5 million through its IPO.
The proceeds are earmarked for investment in research and development of new solutions and market expansion.
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