Tuesday, October 5, 2010

Firm debut for Malaysian Genomics Resource

KUALA LUMPUR: Malaysian Genomics Resource Centre Bhd (MGRC) made a firm debut on the ACE Market on Tuesday, Oct 5 with the share price rising in active trade.

It opened at RM1.20, up 12 sen from its offer price of RM1.08.

At 9.08am, it was up five sen to RM1.13 with 2.16 million shares done.

The FBM KLCI added 7.8 points to 1,470.07. Turnover was 60.27 million units valued at RM46.63 million. There were 86 gainers, 74 losers and 105 stocks unchanged.

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MCRC, which focuses on contract genomics services, raised RM18.47 million for its initial public offering at RM1.08 apiece.

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MGRC announced on Monday it received the approval to implement two genome sequencing and analysis projects from the Malaysian Government. MGRC intends to accept the allocated RM5.97 million, being the first of two tranches.


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