THE logistics arm of LHN Limited : 41O 0%, LHN Logistics : GIH 0%, capped its trading debut on the Singapore Exchange’s Catalist board on Friday (Apr 29) 7.5 per cent or S$0.015 below its initial public offering (IPO) price of S$0.20.

This gives the company a market capitalisation of S$31.0 million and an implied price to earnings ratio of 9.3 times. The company posted a net profit of S$3.3 million for the year ended Sep 30, 2021. The theoretical earnings per share would be S$0.0198 in FY2021, based on the enlarged share capital of 167.7 million shares post-placement. 

The company said that S$3.2 million of the approximately S$3.6 million in total net proceeds from the IPO would partially finance the construction of LHN Logistics’ ISO tank depot at 7 Gul Avenue.