Ecomate IPO

 I applied for Ecomate IPO, at RM0.33 for 100,100 units for RM33,033.

100,100 units because I want to go into a higher band of 100,100units+ for hopefully higher chance of getting it. The band before is up to 50,100 to 100,000 units.

I got 5,000 units valued at RM1,650.

I think the business is OK, not super outstanding but at least it looks like in the right direction. Gross and net profit growing, and net profit % is quite OK. I have no idea about the management's integrity, so that's a risk.

I won't go over the numbers since someone else has done it here.

On November 8th IPO day the stock reached as high as 70.5sen, meaning I if I time the sell surgically I could've made:

5,000 units X (RM0.705 - RM0.33) - RM1

= RM1,874

The RM1 is cost for application via Maybank2U.

But I didn't sell and decided to hold.

As of today (November 12th), the share price stood at RM0.52, means I'm sitting on a 57.5% gain.

I'm keeping the stock for now :)