UOA Development Bhd, a Malaysian developer, fell below the issue price paid by institutional investors in its debut on the Kuala Lumpur stock exchange.
The stock fell 1.2 per cent to RM2.57 at 9:04 a.m. local time.
The company sold shares to institutions at RM2.60 each in its initial public offering.
The offer was priced at a discounted RM2.52 per share for individual investors.
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