Daythree Digital’s share price jumps to 65c/share on debut

Estimate Reading Time: < 1 minute

KUALA LUMPUR: Daythree Digital Bhd made its debut on the ACE Market of Bursa Malaysia today at a starting price of 65 sen a share, which was more than double the initial public offering (IPO) price of 30 sen a share.


The tech-driven global business service (GBS) provider, which raised RM33.1mil in the listing exercise, is aiming to accelerate its business expansion to rise on the positive prospects in Malaysia’s GBS sector.

According to the company, the country’s GBS sector is expected to grow at 6% per annum over the next five years.

Daythree Digital managing director Raymond Davadass said following the listing, the company is ready to cater for rising demand for its offerings in line with the global trend towards digital transformation.

“There is a strong desire to attain a digital economy, which will lead to more businesses adopting digitisation in their operations, and thus leading to increased demand for GBS services,” he said in a statement.

Daythree Digital issued 110.4 million new shares of 23% of its enlarged share capital at 30 sen a share.


The existing shareholders of the company also made an offer for sale of 12 million existing shares or 2.5% of the enlarged share capital via private placement.

Based on the enlarged share capital of 480 million shares, Daythree Digital hd a market capitalisation of RM144mil upon listing.

Raymond holds 36% equity interest in the company through Dayspring Capital Sdn Bhd, down from 50% pre-IPO, followed by Cloud Marshal Sdn Bhd with a stake of 23.1%, down from 30%.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.

– The Star

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/capitalp/public_html/wp-includes/functions.php on line 5373