EquitiesTracker makes flat debut on LEAP Market

Vong: This listing on the Leap Market of Bursa is a fitting achievement for the EquitiesTracker as we stand poised for the next phase of growth.

EquitiesTracker staff gathering around the ceremonial gong at the group's listing ceremony here today. Photos by Sam Fong

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KUALA LUMPUR (March 7): Equity investment research platform and investment training provider EquitiesTracker Holdings Bhd made its debut on Bursa Malaysia's Leap Market today at 17 sen, unchanged from its issue price.

A total of 100,000 units were transacted at the opening bell today.

It proposed 42 million new shares representing approximately 17.1% of the company's enlarged issued share capital at an indicative issue price of 17 sen per share, making up a market capitalisation of RM41.7 million upon listing.

EquitiesTracker plans to raise gross proceeds of RM7.14 million, with the bulk of the listing proceeds or about RM4 million to be used to upgrade and enhance the company's information technology platform as well as its back-end support systems.

"This listing on the Leap Market of Bursa is a fitting achievement for the EquitiesTracker as we stand poised for the next phase of growth. Our future strategy would not only boost our current capabilities, but also open up new avenues for expansion," said the group's executive director and chief executive officer Alvin Vong at the listing ceremony here.

Going forward, Vong sees opportunities for expanding its investment training services through online platform, as this will also allow the company to capture bigger market share through venturing into overseas markets.

"We see the growth potential in the online learning platform. Parts of the digital campaign are also targeting millennials who are tech savvy as they love to be in the social media space," he added.

Vong noted that market research has projected the equity investment research platform industry in Malaysia to grow by a further compound annual growth rate (CAGR) of 10.1% between 2018 and 2020, reaching RM324.2 million in 2020.

Meanwhile the investment training service industry in Malaysia is expected to rise at a healthy CAGR of 9.6% between 2018 and 2020, to reach RM110.7 million in 2020.