KUALA LUMPUR (July 19): CTOS Digital Bhd (formerly known as CTOS Holdings Sdn Bhd) debuted on the Main Market of Bursa Malaysia this morning, surging to a high of RM1.76, a 60% premium over its initial public offering price (IPO) of RM1.10. The stock opened at RM1.50 or 40 sen above its IPO price. At the time of writing today, the stock had climbed 50% or 55 sen to RM1.65 with a trading volume of 124.86 million — making it the most active stock traded on Bursa. The share price exceeded Kenanga Research’s target price (TP) of RM1.40, which is pegged at 45 times earnings for the financial year ending Dec 31, 2022 (FY22), and UOB Kay Hian Research’s TP of RM1.32 based on 40 times FY22 price-earnings ratio (PER).