GS Holdings steady in debut trading

Singapore

CATALIST-listed GS Holdings, which started trading on Monday, held up its gains amid a global equities sell-off as oil prices slumped to the lowest since 2003 in Asian trading.

The stock of the operator of centralised dishwashing facilities opened at 28 Singapore cents, holding above its initial public offering placement price of 25 cents throughout the day before closing at 26 cents, after just 2.85 million shares changed hands.

A dealer with a local brokerage noted that recent IPOs on the Catalist have been listed through private placements with small public floats, which help to keep their share prices relat…