Shares in Malaysia's MR D.I.Y. fall as much as 6.25% in market debut

Credit: REUTERS/OLIVIA HARRIS

Shares of Malaysian home improvement retailer MR D.I.Y. Group Bhd fell as much as 6.25% in its market debut on Monday, in what is the country's largest IPO in more than three years.

KUALA LUMPUR, Oct 26 (Reuters) - Shares of Malaysian home improvement retailer MR D.I.Y. Group Bhd fell as much as 6.25% in its market debut on Monday, in what is the country's largest IPO in more than three years.

The shares hit a low of 1.50 ringgit after the opening bell but rose above the initial public offering (IPO) price of 1.60 ringgit per share in early trade.

The company raised 1.5 billion ringgit ($361.45 million) in the exercise, giving it a market value of 10 billion ringgit.

(Reporting by Liz Lee; Editing by Kim Coghill)

((liz.lee@thomsonreuters.com; Desk: +60323338039; Twitter: @livinglizly;))

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