The first appearance (debut) of local durian wholesaler, DSR Taiko Bhd on the LEAP Market on Bursa Malaysia saw its shares jump 200%.
During the opening session, a total of 130,000 shares were traded at 92 sen with a premium of 62 sen (200%) over the reference price of 30 sen.
It is the 18th listing on Bursa Malaysia and the 4th on the LEAP Market so far this year.
Commented by the company's Chief Executive Officer (CEO), Ng Lian Poh, based on the performance, they obtained a gross revenue of RM25.75 million and is the highest fund raised so far through the LEAP listing.
He added that the funds will be used for the purpose of acquiring durian plantation land in Bentong and the listing will enable them to explore overseas markets.
For information, DSR Taiko has 33 durian farms in Raub and Bentong with an aggregate area of 40.08 hectares.
In addition, through a joint venture partnership with Daily Fresh International the company has developed and commercialized various durian -based products.
Turning to the issue of rising prices plaguing the market, Ng explained that high demand and low supply had driven the surge apart from type and location.
