Affinity-backed Leong Hup International debuts on Bursa Malaysia

Malaysia-based integrated poultry producer Leong Hup International Bhd made its trading debut on Bursa Malaysia Thursday morning, opening two sen above its IPO price of 1.10 ringgit.

Its shares rose as much as 8.2 per cent to 1.19 ringgit in the first few minutes of trading, giving Leong Hup a market capitalisation of 4.02 billion ($962.6 million). It seeks to raise a total of 1.2 billion ringgit ($288 million) from the listing including an overallotment option.

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