It opened at 27 sen, a premium of two sen or 8% compared to its initial public offering (IPO) price of 25 sen.

The group raised a total of RM39.27 million through the IPO, from which RM26.86 million will be allocated for margin financing facility services.

In addition, RM2.88 million will be allocated for the enhancement of the digitalisation programme and marketing activities for the company’s stockbroking business and operations.

Another RM4.63 million will be allocated for working capital causes and RM4.9 million for estimated listing expenses.

As at 12.29pm, its share price was up by 3.5 sen or 14% at 28.5 sen and was the third-most actively traded stock with over 128 million shares exchanging hands.

Mercury Securities is the first stockbroking firm to go public in the last 20 years. It is principally engaged in stockbroking, corporate finance advisory and other related businesses, including the provision of nominee and custodian services.

Currently, the group has expanded to seven branches across East and West Malaysia.