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Aspen (Group) Holdings
ASPEN (Group) Holdings started trading on the Singapore Exchange's Catalist board on Friday, flat to a shade below its initial public offer (IPO) price. The Malaysia-based property development group opened at S$0.225 a share and hit S$0.230 before hovering around S$0.210 by 12.20pm. It had offered some 173 million new shares at S$0.23 each.
Aspen raised gross proceeds of about S$39.9 million from its IPO and planned to use about S$25 million to acquire land and for future developments. It announced on Thursday that its IPO of new shares was 7.8 times subscribed. Aspen closed trading at S$0.21 on Friday.
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