On its market debut, Fushun Capital saw a weak performance, with its share price dropping more than 10% within the first half of trading.

(Kuala Lumpur, 13th) Hock Soon Capital Berhad (HOCKSOON, 5346), a poultry and egg producer listed on the Main Market, debuted at a discount on its first trading day.

The stock opened at 53 sen, below its IPO price of 60 sen, and briefly fell to an intraday low of 50.5 sen, representing a 15.83% discount. By midday, it traded at 53.5 sen, down 10.83% from the IPO price, with trading volume reaching 46.35 million shares.

The company raised RM60 million through the issuance of 100 million new shares. Of the proceeds:

RM53.5 million will be allocated to building a new poultry farm in Teluk Intan, Perak.
RM6.5 million will cover listing expenses.

Currently operating a farm in Bidor, Perak, with daily egg production of approximately 1.63 million eggs, the company plans to build 25 additional closed-house poultry sheds over five years.

Upon completion, daily production is expected to increase to 3.16 million eggs, nearly doubling output.

Management highlighted two key growth drivers:

A stronger ringgit reducing feed import costs
Expansion and automation initiatives improving efficiency and margins

Malacca Securities acted as the principal adviser, sponsor, underwriter, and placement agent for the IPO.

On its market debut, Fushun Capital saw a weak performance, with its share price dropping more than 10% within the first half of trading.

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