Bumi Armada surges in KL listing debut

Bumi Armada Bhd, controlled by Malaysian billionaire T. Ananda Krishnan, surged on its Kuala Lumpur debut after raising RM2.66 billion (US$889 million) in the nation’s biggest initial public offering this year.

Shares of oil and gas services company jumped 23 per cent to RM3.72, with 36.5 million shares traded, making it the most active stock on the Malaysian bourse.

The company sold shares at RM3.03 each in its share sale. -- Bloomberg