Red Ideas jumps 20% on LEAP Market debut

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KUALA LUMPUR (Nov 8): Mobile community security communication software developer Red Ideas Holdings Bhd jumped 20% on its Leading Entrepreneur Accelerator Platform (LEAP) Market debut today.

At 9am, Red Ideas rose 7 sen to 42 sen with 105,000 shares done.

Red Ideas aims to raise some RM7 million through its LEAP listing.

In its filing with the stock exchange Oct 17, Red Ideas said it intends to raise the fund via private placement, at an indicative price of 35 sen per share.

The placement size would be 20 million shares, representing 20% of the group’s enlarged share capital.