MoneyMax Financial Services' stock surged 3.26% during intraday trading on Thursday, showing strong investor interest in the company.

The movement follows recent developments including a successful capital raising effort where the company secured S$44.3 million through a placement of 53 million new shares to EQDP-appointed fund managers. The placement was fully subscribed by institutional investors including Fullerton Fund Management, Lion Global Investors and Eastspring Investments.

Proceeds from the placement are earmarked for working capital and support the company's proposed transfer from the Catalist board to the SGX Main Board, which is targeted for completion in early May. The company also reported strong FY2025 financial results with revenue rising 38.9% and profit surging 87.6%, alongside an increased dividend payout including a special dividend.