From left: Panda Eco System independent non-executive director Siew Suet Wei, independent executive director Datuk Leanne Koh Li Ann, independent non-executive chairman Nicholas Yap, executive director/CEO Loo Chee Wee, executive director/chief technology officer Tay Kheng Seng, independent non-executive director Chan Kam Chiew, M&A Securities Sdn Bhd head of corporate finance Gary Ting and M&A Equity Holdings Bhd managing director Datuk Bill Tan
KUALA LUMPUR: Panda Eco System Bhd
made it debut on the ACE Market of Bursa Malaysia at 29 sen a share, a 13 sen or 81.25% premium to the initial public offering (IPO) price of 16 sen a share.
Shares in the home-grown retail management solutions provider recorded an opening volume of 24.85 million shares, which put it at the top of the active trading table.
During the listing ceremony, executive director and CEO Lo Chee Wee said retailers must embrace technology and implement robust solutions to enhance their operations to remain relevant.
"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," he said.
He added that the IPO proceeds of RM17.5mil will enable the company to invest in research and development of new solutions, expand its market presence, and continue advancing, thereby solidifying its position as a home-grown Malaysian software company.
Panda’s IPO generated significant interest, with the balloting portion for the Malaysian public oversubscribed by 153.5 times.
The group is primarily involved in the development, customisation, implementation, and integration of Retail Management Eco-system for its customers.
Its in-house developed retail management eco-system assists retailers in meeting the distinctive operational needs of retail chain stores and caters to small to large retail chains.
Its solutions are currently adopted by over 1,400 retail stores across Peninsular and East Malaysia, Batam and Brunei, it said.
Panda announced in a Nov 22 bourse filing it had posted a net profit of RM1.79mil or 0.32 sen per share and revenue of RM5.46mil in the quarter ended Sept 30, 2023.
