Thursday 07 Dec 2023
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KUALA LUMPUR (Feb 20): InNature Bhd's share price rose as much as 10 sen or 15.63% to 74 sen in morning trades today in conjunction with the The Body Shop International Ltd franchisee's debut on Bursa Malaysia's Main Market.

InNature shares opened at 72 sen at 9am against its initial public offering (IPO) price of 64 sen. At 5pm, the stock closed at 65.5 sen with some 143.7 million shares changing hands to become Bursa's most-active stock.

At the listing ceremony here, InNature managing director Datin Mina Cheah-Foong said while the company recognises the challenges from the Covid-19 outbreak, it is still too early for the company to know the impact from the outbreak on InNature's business.

"However, we can reassure you that in the [past] 35 years, we have gone through Nipah virus, H1N1 [influenza virus], SARS (Severe Acute Respiratory Syndrome) and so on. Through all those years, we had experienced growth and always maintained our profitability as well.

"I do not think people will stop buying toiletries and soaps. We will weather these [challenges] and other effects that are coming [to us]," she said.

InNature's IPO involves a public issue of 74.07 million new shares and an offer for sale of 103.2 million existing shares in the company.

At 64 sen, InNature has a market capitalisation of RM451.76 million based on its expanded issued share capital of 705.88 million units.

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