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Condom maker Karex opens sharply higher at RM2.34

KUALA LUMPUR: Condom maker Karex Bhd made a strong debut on the Main Market of Bursa Malaysia on Wednesday, opening at RM2.34, which was 49 sen above IPO price of RM1.85.

At 9.08am, it was up 52 sen to RM2.37. There were 13.24 million shares done.

The FBM KLCI rose 2.17 points to 1,809.64. Turnover was 174.32 million shares valued at RM113.30mil. There were 162 gainers, 91 losers and 166 counters unchanged.

At an offer price of RM1.85 each, its initial public offering (IPO) was oversubscribed by a massive 22.76 times. Karex currently supplies 10% of the total condoms sold worldwide.

Karex CEO Goh Miah Kiat said: “We are very happy to open at such a good price. I am actually overwhelmed with the interest especially that shows the investing community is confident in Karex.

“We see that very positively. We would like to move into our next phase as a listed company going forward,” he said.

RHB Research Institute has a target price of RM2.59 for Karex based on 16 times calendar year 2014 price-earnings.

A cheaper ringgit and weaker latex prices will benefit the exporter.
06 Nov 2013, 02:17 PM
Very disappointment this counter listing not making money but given very bad on bursa & SC
they never qualification on their earning time to time in 2 years or more.
14 Nov 2013, 08:45 PM

Yes, very disappointing result. doh
15 Nov 2013, 09:19 AM
I was thinking this counter should be delisted from bursa because reason is they are not comply listing requirement on MS standard. We are felt that has been play out just a fake image on this company and moreover the share show high not tie up what earn from time to time and day by day. Please lah SC & Bursa given us more confident this company went they are listing. Tom and harry company listing latter delisting like Carlaw berhad after 5 years
bye and bye , and right now XOX berhad is about the same pattern.
15 Nov 2013, 04:26 PM
See what O'Mighty thinks of KAREX!!!!

Like our FB page !!! yeahyeahyeah
09 Sep 2015, 02:06 PM
yeahGoing up target Rm 4.05
10 Nov 2015, 01:10 AM

4.30 is possible
19 Nov 2015, 02:50 PM

4.30 is possible
19 Nov 2015, 02:50 PM
Another cautious note on KAREX for O'Mighty
01 Dec 2015, 01:30 PM

Karex quiet quite some time. Just brought some today hope can see the return next quarter 

09 Mar 2017, 08:31 PM

KAREX Preliminary Study – 26 Sep 2017

29 Sep 2017, 10:28 AM
Yong Meng KAREX

11 Nov 2019, 01:17 AM

Buy Karex.68-72 cents.Market cap rm 1 billion.TP 95-105(cents).

30 Apr 2021, 11:07 AM

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