Kimly closes first day of trading at S$0.44

Singapore

AFTER receiving strong demand for its initial public offering (IPO), coffeeshop master leaseholder and food outlet operator Kimly enjoyed a 120 per cent pop from its IPO price when it began trading on Monday.

However, by the close of trading the price had been driven 20 per cent lower from its opening price of S$0.55 to S$0.44. The closing price was nevertheless still 76 per cent above the IPO price of S$0.25.