JM Education up 13% on LEAP Market debut

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KUALA LUMPUR (Feb 8): JM Education Group Bhd rose as much as six sen or 13% so far today at the company's debut on Bursa Malaysia's LEAP Market.

At 10:30am, JM Education shares were traded at 50.5 sen with 59,000 shares transacted. JM Education managing director Teh Cheong Hua told reporters after the listing ceremony here today that educational counselling made up over 80% of the company's revenue while the technical and vocational education and training (TVET) segment contributed the balance.

"The TVET business is something that has growth potential. We are open to work with foreign TVET providers — from China or Australia — who are interested to penetrate the Malaysian market," Teh said.

According to JM Education's listing information memorandum, the company had earlier placed out 6.8 million shares at 45 sen each to raise RM3.06 million.

Upon listing, JM Education has an expanded share capital of 67.8 million shares. At 45 sen, the company has a market value of RM30.51 million.