Malaysia steelmaker Perwaja stock debuts lower
Tue Aug 19, 2008 9:04pm EDT
KUALA LUMPUR, Aug 20 (Reuters) - Shares of Malaysian steelmaker Perwaja Holdings PWJH.KL opened lower than their offer price on their debut on Bursa Malaysia on Wednesday at 2.70 ringgit a share.
The company had a market capitalisation of 1.6 billion ringgit ($480.2 million) based on its offer price of 2.90 ringgit in a initial offering, the largest this year in Malaysia, according to the company.
Its steel making plant, located in Kemaman, Terengganu, has a capacity of producing 1.5 million tonnes of steel annually.
(Reporting by David Chance, editing by Jalil Hamid)
* Was there about last week. Seems like Perwaja is getting busier. I worked at the Perwaja Plant under Dayacom Engineering prior to joining MATRADE so I can see the difference from 2003 when Perwaja started it's refurbishment.
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