May 16, 2019 / 1:14 AM / 2 months ago

Malaysian poultry producer Leong Hup rises 8.2% on first day of trade

KUALA LUMPUR, May 16 (Reuters) - Shares of poultry producer Leong Hup International rose as much as 8.2% on the first day of trade on Thursday, marking strong appetite for Malaysia’s largest initial public offering in almost two years.

The shares hit a high of 1.19 ringgit in the first few minutes of trade after the IPO was priced at 1.10 ringgit, giving Leong Hup a market capitalisation of 4.02 billion ringgit ($963.80 million). ($1=4.1710 ringgit) (Reporting by Liz Lee; Writing by A. Ananthalakshmi; Editing by Clarence Fernandez)

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