MS Holdings opens 32% up on Catalist debut

MS Holdings began its maiden day on SGX-Catalist on an encouraging note, opening higher at 33 Singapore cents - eight Singapore cents or 32 per cent higher than its offer price of 25 Singapore cents apiece.

The counter was one of the most actively traded in the first hour of Friday's trading session with some seven million shares worth S$2.4 million done. It is trading at 36.5 Singapore cents, up 11.5 Singapore cents from its offer price.

The crane rental operator raised some S$3.8 million from its initial public offering which it said will be used to acquire mobile cranes and hauling equipment for fleet renewal, develop its mobile crane trading business and for working capital.