Coraza Integrated Technology Berhad - The IPO that almost limit up

Limit Up IPO - Coraza IPO

Yesterday (22nd Jan 2022) was the listing of Coraza Integrated Technology Berhad. Coraza is an integrated engineering solution provider that offers one-stop services from design and development to product delivery with core competencies in sheet metal fabrication, precision machining and electromechanical assembly, according its website.

Compare to its IPO price of RM0.28, it has an opening price of RM0.70 and with a astonishing increment of 150%.

30 minutes before the opening, that is, from 8:30 to 9:00 in the morning, the theoretical opening price of Coraza Integrated Technology Berhad has always been between RM0.90 and RM1.40 during this period, but the theoretical opening price dropped to RM0.70 when it was close to the opening.

Do you know what does a RM1.40 TO Price for Coraza IPO means yesterday? It's very likely to be the only IPO I've seen in a year or two that came close to the Limit Up.

Maybe some of you don't even know, there are some differences between the limit-up and limit-down mechanisms of IPO and other stocks. For example, a stock that is already listed on Bursa Malaysia can go up up to 30sen (share price below RM1) and up to 30% (share price above RM1).

For all IPOs listed on the Ace Market and Main Board, their daily limit up price is 5 times the IPO price (=> IPO price*5)

Therefore, if the TO price of Coraza can be stabilized at RM1.40 until the opening, those who are lucky to get the Coraza Berhad shares through Public IPO Balloting will have a return rate of 400% from their investment.

However, it may be that some of the previous buying orders ran away at the end, or the increase in selling orders near to the opening caused the Theoretical Opening price of Coraza to finally drop to RM0.70 from the initial TO range.

But it is still a congratulations to those who have successfully be allocated with the shares of Coraza Integrated Technology Berhad, and at least you still earn a return of 100% to 150% . In addition, I recorded a video that morning for a while to see when and how the Coraza TO Price was shaking violently in that period.

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