KUALA LUMPUR: The distributor of baby, children and maternity products, Kim Hin Joo made a cautious debut on the Ace market, opening at 39 sen with 3.56 mil shares done, which was 4 sen below its offer price of 43 sen.

The company opened with 3.56 mil shares done.  At 9.08am, it was lower at 36.5 sen, while prices ranged from 39sen to 36.5sen 

The IPO involved 76 million new ordinary shares, out of which 19 million were opened to the public, which was oversubscribed 7.67 times. 

The balance shares of 47 million were issued through a private placement to identified institutional and selected invites and 10 million were reserved for eligible directors, employees and people who have contributed to the success of the company and subsidiaries. 

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