KUALA LUMPUR: Prolintas Infra Business Trust (Prolintas Infra BT or the Trust), managed by Prolintas Managers Sdn Bhd, made its debut on the Main Market of Bursa Malaysia at 95 sen, the same as its initial public offering (IPO) price.
Based on Prolintas Infra's total issued units of 1.1 billion, the stock was listed with a market capitalisation of about RM1.05 billion.
The trading stock of Prolintas Infra BT was up 4.2 per cent and achieved a mid-intraday high of 99 sen, with more than 34.8 million units traded during the first half of the trading session.
Prolintas Managers chairman Datuk Ikmal Hijaz Hashim said after years of steadfast dedication, the company has reached this crucial and remarkable occasion to chart a historic milestone in the highway infrastructure industry.
"We're confident that the IPO will enable Prolintas to embark on future strategic infrastructure initiatives. We look forward to continuing our journey to create a safe, convenient and enriching user experience among all stakeholders," he said in a statement.
Prolintas Infra comprises four matured highways namely Ampang-Kuala Lumpur Elevated Highway (AKLEH), Guthrie Corridor Expressway (GCE), Lebuhraya Kemuning-Shah Alam (LKSA), and Sistem Lingkaran Lebuhraya Kajang (SILK), with an average remaining concession period of approximately 32 years.
According to Prolintas Infra, the highways serve almost 500,000 road users every day.
In 2022, the combined traffic volume for the highways under Prolintas Infra was about 158.2 million, up 44.8 per cent from 109.3 million in 2021.
This takes up a 15.7 per cent market share by total traffic volume in 2021 for the urban highways in the Klang Valley (excluding the Setiawangsa-Pantai Expressway and the New Klang Valley Expressway).
According to the trust's distribution policy, the trustee-manager aims to pay out at least 90 per cent of the trust's distributable income to its unitholders on an annual basis.
Specifically, it is targeting to distribute a total of RM70 million for the financial year ending Dec 31 this year.