KUALA LUMPUR (July 8): DSR Taiko Bhd fell by as much as 29% to 92 sen on its third day of trading on Bursa Malaysia’s LEAP Market on Friday (July 8) before recovering part of the losses.

The durian planter closed the day with a lower loss of 19 sen or 14.73% at RM1.10, but was still among the top losers on Bursa on Friday.

DSR Taiko made a strong debut on the LEAP Market on Wednesday, opening at 92 sen for a premium of over 200% over its reference price of 30 sen.

On Friday, the counter saw 910,000 shares changing hands, an increase from 130,000 on the first day of listing.

At the current price, DSR Taiko is valued at RM344.2 million.

The company, which specialises in the full spectrum of the durian agribusiness value chain, had raised gross proceeds of RM25.75 million via its initial public offering. The money was to be mainly used to acquire durian plantation land in Bentong, Pahang.

DSR Taiko owns 33 parcels of durian plantation land in Bentong and Raub, Pahang, with an aggregate land bank of 40.08 hectares.

The company plans to expand its durian plantations this year, conduct research and development and commercialisation of new durian-based products, as well as introduce 'internet of things' solutions in its operations.

In the medium term, it plans to expand its retail operations, including into the overseas market, by 2024.

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