Hot stock: WCG opens higher; most active stock in debut on SGX on Thursday

WORLD Class Global (WCG), a real estate company that does property development and investment in Australia and Malaysia, was the most active stock on the Singapore Exchange (SGX) on Thursday morning.

As at 9.03am, over five million shares had changed hands.

WCG debuted on Catalist (SGX's junior board) on Thursday at S$0.27, one Singapore cent above its issue price of S$0.26. At 9.30am, the stock was trading at S$0.275.

Net proceeds of about S$21.9 million have been raised from invitation shares, nearly four million of which were made available for subscription until Tuesday. The invitation shares were 2.1 times subscribed at their closing, said WCG.

ZICO Capital is the sponsor and issue manager in connection with WCG's initial public offering and will be its continuing sponsor following the listing on Catalist.

UOB Kay Hian is the underwriter and placement agent for the invitation, and OCBC is the sub-placement agent.