Hot stock: LHN retreats from early gains

SHARES of real estate management services firm LHN Limited, which debuted on Catalist on Monday, lost ground from early-trading gains.

The stock surged as much as 13 per cent to S$0.26 from its initial public offering (IPO) price of S$0.23 on its first day of trading, before falling back to S$0.23 as at 10.15am.

It sold 73.9 million shares to private investors. No retail tranche was offered. LHN's share sale raised S$17 million, and it is the first IPO in Singapore this year.