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
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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.
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