KUAL A LUMPUR: Malaysian Genomics Resource Centre Bhd (MGRC) ended its first trading on Tuesday, Oct 5 on a disappointing note, closing down nearly 13% or 14 sen to 94 sen. Its offer price was RM1.08
This was a sharp reversal from early trade when it rose as much as to RM1.21, up 13 sen. It opened at RM1.20.
The decline in its share price was in line with the overall market breadth, with losers leading gainers by 411 to 319, while 290 counters traded unchanged.
MGRC, which focuses on contract genomics services, raised RM18.47 million for its initial public offering at RM1.08 apiece.
MGRC announced on Monday that it received the approval to implement two genome sequencing and analysis projects from the Malaysian government. MGRC said it intended to accept the allocated RM5.97 million, being the first of two tranches.
This was a sharp reversal from early trade when it rose as much as to RM1.21, up 13 sen. It opened at RM1.20.
The decline in its share price was in line with the overall market breadth, with losers leading gainers by 411 to 319, while 290 counters traded unchanged.
MGRC, which focuses on contract genomics services, raised RM18.47 million for its initial public offering at RM1.08 apiece.
MGRC announced on Monday that it received the approval to implement two genome sequencing and analysis projects from the Malaysian government. MGRC said it intended to accept the allocated RM5.97 million, being the first of two tranches.
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