Trendlines slips below the line on debut

Singapore

THE trading debut of Trendlines Group, an Israeli biomed incubator, on the Catalist board may be worthy of celebration for several reasons but its shabby stock performance on Thursday belied that.

Trendlines is the 100th firm to seek a new listing on Catalist since the junior board was launched eight years ago and it also marks the first listing of an Israeli firm on SGX in a decade.

Yet, after a nothing-to-clap-about opening of 34 Singapore cents, up 3 per cent from its offer price of 33 Singapore cents, the stock ended the day underwater at 30 Singapore cents amid a weak market. Some 26.5 million shares were traded. At its best, the stock climbed nearly 8 per cent to 35.5 S…