RedPlanet gains 42.1 per cent at ACE Market opening
The company’s transfer from the LEAP Market followed an IPO whose public allocation was oversubscribed by 85.28 times.
RedPlanet Bhd opened its first ACE Market session at 27 sen after transferring from the LEAP Market. That put the stock 42.1 per cent above the 19 sen price set for its initial public offering (IPO).
At 9.20am, investors were trading the shares at 27.5 sen, representing an increase of 8.5 sen, or 44.74 per cent, over the IPO price. Volume stood at 38.1 million shares and market capitalisation was RM110.87 million.
The session’s earlier trading range ran from 25.5 sen to 28.5 sen. The IPO’s public allocation recorded oversubscription of 85.28 times.
The enterprise information and communications technology solutions business had joined the LEAP Market in August 2020.
For its financial year to June 30, 2026, RedPlanet recorded RM7.31 million in adjusted net profit, an increase of 35.1 per cent. Revenue reached RM40.72 million, rising 22.3 per cent from RM33.3 million a year earlier.
Geospatial solutions contributed the largest share of revenue: RM18.4 million, equivalent to 45.1 per cent. Malaysia supplied 87 per cent of group revenue, while markets overseas generated the balance.
