KUALA LUMPUR: ICT service provider Prestariang Bhd opened flat at its offer price of 90 sen in cautious trade on Wednesday, July 27, mirroring the weak regional and local markets.
At 9.09am, it was down three sen to 87 sen.
Within the first nine minutes of trade, there were 15.49 million shares done at prices ranging from 87 sen to 90.5 sen.
On the eve of its listing, Prestariang announced it had secured an RM80 million contract with the Ministry of Higher Education for an industry based certification scheme.
The programme would be undertaken by its unit Prestariang Systems Sdn Bhd under a contract over four years at RM20 million a year.
The offer price of the shares is 90 sen. Hwang DBS Vickers Research has a fair value of RM1.09 based on sum-of-parts.
According to the research house, Prestariang intends to gradually reduce its dependency on government contracts going forward.
The company plans to expand its product offerings to include more in-house certification programmes, set up sales offices and training centres in three new locations within Malaysia in 2H11, widen clientele base from the Middle East region via partnership arrangements, and develop its own proprietary test and assessment centres with in-house proprietary procedures and systems in 2012.
At 9.09am, it was down three sen to 87 sen.
Within the first nine minutes of trade, there were 15.49 million shares done at prices ranging from 87 sen to 90.5 sen.
On the eve of its listing, Prestariang announced it had secured an RM80 million contract with the Ministry of Higher Education for an industry based certification scheme.
The programme would be undertaken by its unit Prestariang Systems Sdn Bhd under a contract over four years at RM20 million a year.
The offer price of the shares is 90 sen. Hwang DBS Vickers Research has a fair value of RM1.09 based on sum-of-parts.
According to the research house, Prestariang intends to gradually reduce its dependency on government contracts going forward.
The company plans to expand its product offerings to include more in-house certification programmes, set up sales offices and training centres in three new locations within Malaysia in 2H11, widen clientele base from the Middle East region via partnership arrangements, and develop its own proprietary test and assessment centres with in-house proprietary procedures and systems in 2012.
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