Foodie Media makes strong ACE Market debut at 18.3% above IPO price

The Star

Foodie Media Bhd made a strong debut on Bursa Malaysia’s ACE Market on Friday (Nov 28) following strong investor demand for its initial public offering (IPO).  Read more at https://tinyurl.com/dc968jbp  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:003, 2, 1

00:02Foodie Media Berhad made a strong debut on Bursa Malaysia's ACE market on Friday,

00:10following strong investor demand for its initial public offering.

00:14The stock opened at 35.5 cent, representing a 5.5 cent or 18.3% premium

00:20over its IPO price of 30 cent, with 15.29 million shares changing hands.

00:27Its IPO was oversubscribed by 24.63 times for the public portion of 44.4 million shares.

00:57There's no other look more sincere than the love for food.

01:00Foodie Media's story is one that inspires.

01:03What began in 2016 is a simple passion for food that has now grown into a digital media powerhouse,

01:09connecting the mouse phones for millions of people across Malaysia and beyond.

01:13I still remember that time, after five months of launching Penelope Foodie,

01:19my girlfriend at that time, now wife, still wrote me a card to say congratulations for hitting 1K pullovers.

01:27We didn't stop there.

01:28Our attention was straightforward, to share good food and good story digitally.

01:33Today, as we celebrate our listing on the ACE market of Bursa Malaysia,

01:39with a market capitalisation of approximately $266 million,

01:45I feel an overwhelmed sense of pride, not just for the achievement, but for the journey that brought us here.

01:54Foodie Media creates and distributes digital content across major social platforms and its own websites,

02:00managing 37 lifestyle brands in Southeast Asia.

02:05Its key brands, including KL Foodie, Penang Foodie, Bangkok Foodie, Singapore Foodie and Halal Foodie,

02:12collectively reach 48 million followers.

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