Ivory Properties Group Berhad made an impressive debut on Bursa Securities on July 28, chalking an intra-day high of 35% over its offer price before closing the day on a 30% premium.

It was also the day’s most active stock, seeing a total of 513,585 lots changing hands.

Ivory Properties shares, with an IPO offer price of RM1 per share, opened the day at RM1.15. It quickly rose to RM1.28 and hovered between RM1.20 and RM1.30 before the close of the trading session at 12.30pm. It rose to hit its high of RM1.35 in afternoon trading. The counter closed its first day on the market at RM1.30.

On the listing day, Ivory Chairman and Group CEO Dato’ Low Eng Hock hit the ceremonial gong to signal the start of trading on the counter after a countdown at 9am.

In his speech earlier, Dato’ Low said with this listing, Ivory will undertake bigger and more challenging projects both within the country and abroad. “With its capabilities and proven track record, I believe Ivory will soon be a well branded name in Malaysia. The road towards this listing was a great learning experience for all of us and we are all geared up to take the company to the next level of growth,” he said.

Also present were Bursa Malaysia Chief Market Operations Officer Mr Devanesan Evanson, AmInvestment Bank Bhd Executive Director Ms Pushpa Rajadurai, AmInvestment Bank Director & Head of Corporate Finance En Anuar Omar, KPMG Partner Mr Ooi Kok Seng, and Henry Butcher Malaysia (Penang) Sdn Bhd Director Dr Teoh Poh Huat.

Among the members of the board of directors were Deputy Chairman Datuk Seri Nazir Ariff, Executive Director Loh Chin Chuen, Non-Independent Non-Executive Director Ooi Choi Kiat, and Independent Non-Executive Directors Lim Hock Siu, Loh Chye Teik and Dr Asairinachan Kunjamboo.