• Most Popular
  • Most Shared

Malaysia steelmaker Perwaja stock debuts lower

Tue Aug 19, 2008 9:04pm EDT

Stocks

   

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)



More from Reuters

Photo

New home sales hit seven-month low

WASHINGTON (Reuters) - Consumer spending rose for a second straight month in November as incomes recorded their biggest gain in six months, but a surprise drop in new home sales was a reminder that the economic recovery would be bumpy.

» More Top News
A glass of water taken from a residential well after the start of natural gas drilling in Dimock, Pennsylvania, March 7, 2009. Dimock is one of hundreds of sites in Pennsylvania where energy companies are now racing to tap the massive Marcellus Shale natural gas formation. REUTERS/Tim Shaffer

Not in my watershed: NYC

The biggest U.S. city wants the state to ban one of the most promising sources of U.S. energy -- and also one of the most contentious.  Full Article 

Green Business
Cannabis sativa plant is seen in Buenos Aires, August 21, 2009. REUTERS/Enrique Marcarian
Bernd Debusmann:

Obama, drugs, common sense

American attitudes towards drug prohibition – and above all, punitive laws on marijuana – are changing too fast for policymakers and legislators to ignore.  Commentary 

U.S.