Analysts cite timing and pricing as Soo Kee makes dismal debut
Only 8 Catalist listings this year, with most trading either flat or below IPO prices
Singapore
RETAIL jeweller Soo Kee Group fell 5.5 Singapore cents or 18 per cent to close at S$0.245 on its first trading day on Thursday on the Singapore Exchange Catalist board. Its initial public offering (IPO) price was S$0.30.
Some attributed it to unfortunate timing, saying it started trading on a poor-sentiment day when most of the Straits Times Index constituents finished in the red.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won