KUALA LUMPUR: Swift Haulage Bhd has made its official debut on the Main Market of Bursa Malaysia under the stock name ‘Swift’ and stock code "5303".

       In a statement, the leading integrated logistics service provider said its initial public offering (IPO) raised about RM161.9 mil at an issue price of RM1.03 per share.

       Group CEO Loo Yong Hui said Swift Haulage will continue its commitment to strive for operational excellence.

       "Our enhanced capital base and expansion plans will serve to strengthen our capabilities and competitiveness in the industry.

       "This will enable us to better capture growth opportunities as the global economic recovery resumes, and deliver a sustainable growth strategy to meet shareholders’ expectations in value creation,” he said.

       Swift Haulage's share price opened five sen pr 4.42% higher from its listing price at RM1.13 apiece.

       At 3.25pm, the share price was down five sen or 5.34% to 97.5 sen with 138.46 million shares traded, making it the most actively traded stock on Bursa.