Winstar Capital Bhd listed on Bursa's ACE market today. As at 9:15am, the stock of Winstar traded at RM0.555, up 20.5 sen, which reflected a 58.57% rise over its listing price of RM0.35.

The stock opened at RM0.49 this morning and at one point surged to the high of RM0.565. Winstart during the roughly 15-minute trading period also slid down to RM0.485.

The total volume recorded amounted to 43,484,900 shares/units as at 9:15am.

In early December, Winstar announced it received 19,881 applications for 14.5 million Initial Public Offering (IPO) shares made available for application by the Malaysian public, representing an oversubscription rate of 80.17 times. The IPO shares made available for Bumiputera investors were also oversubscribed by 68.3 times.

Winstar's IPO entails the public offering of 73.95 million (73,950,000) ordinary shares comprising a public issue of 56.55 million (56,550,000) new shares and an offer for sale of 17.40 million (17,400,000) existing shares, representing 25.5% of the group's enlarged issued share capital of 290 million ordinary shares.

The newly issued shares of 73.95 million are allocated in the following manner: 53.50 million by way of private placement to selected investors, 15.95 million for eligible directors and employees of Winstar, subsidiaries and individuals who have contributed to the success of the company, and lastly, 14.50 million shares for the Malaysian Public.

It was previously reported that the company intends to use part of the IPO proceeds to acquire four additional aluminium extrusion lines with a combined capacity of 8,580 tonnes per annum. These new lines, to be installed at its factory in Ijok, Selangor, are expected to increase the company's total manufacturing capacity from 6,705 tonnes to 15,285 tonnes per annum.