KUALA LUMPUR (April 30): Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.
Oppstar rose as much as 30 sen or 24% to RM1.55, its highest since November 2023, before settling at RM1.45, still up 16%, after 41.89 million shares changed hands — about 29 times its 200-day average of 1.44 million shares. It was also among the top 20 active stocks on Bursa Malaysia.
The stock has grown 12.4% so far this year, but declined 30.62% over the last one year. There are two institutional analysts covering Oppstar, with both issuing a “buy” call on the stock. The median 12-month target price is RM1.72, according to Bloomberg.
The company was listed in March last year with an initial offering price (IPO) of 63 sen. Compared to its IPO price, the stock has almost doubled its value.
Oppstar on Monday said that the group is collaborating with Samsung to produce industrial ICs manufactured using Samsung’s 14 nanometre (nm) FinFET technology foundry process. However, no details were given on the collaboration.
Both parties are also keen to explore cooperation on any other future projects that may arise that align with their mutual business interests and capabilities. This encompasses exploring new opportunities and leveraging each other’s strengths to enhance their business partnership, Oppstar said in a statement.
