Oxford Innotech soars 24% in ACE Market debut
PETALING JAYA: Shares in Oxford Innotech Bhd saw a 24% price jump as it made a successful debut on the ACE Market of Bursa Malaysia yesterday.
The Penang-headquartered engineering firm debuted at 36 sen a share, a seven-sen increase over its initial public offering (IPO) price of 29 sen a share.
The stock closed at 38.5 sen in yesterday's trading.
Oxford Innotech, through its subsidiaries, offers integrated engineering solutions with an emphasis on precision engineering components, mechanical assemblies, and automation and robotic solutions.
Having raised RM41.6mil from its IPO, the company is set to construct a new factory and purchase or refinance new machinery.
The new factory is slated for completion in 2027, but there is also new capacity scheduled to commence operations in the third quarter of this year. The two facilities will increase the company's total manufacturing area by 124.9% to 192,896 sq ft.
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