DPI up 40% on ACE Market debut

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KUALA LUMPUR (Jan 7): DPI Holdings Bhd shares rose as much as 10 sen or 40% to 35 sen so far today as the aerosol paints manufacturer debuted on Bursa Malaysia's ACE Market.

At 10:46am, DPI shares were transacted at 27.5 sen with about 91 million units traded. DPI was the most-active stock across Bursa Malaysia.

DPI's initial public offering involved a public issue of 126.56 million new shares at 25 sen each.

DPI group executive chairman and managing director Peter Chai said at a press conference here today in conjunction with the company's listing: "Currently, we are in the paint and coating sector. On new products front, we are looking to venture into cleaning products which are more high value added."

Abroad, DPI has established a customer base in countries including Australia, Indonesia, Japan, New Zealand and Singapore, Chai said.

He said the company is looking to expand its overseas markets in Vietnam, Cambodia and the Philippines.