No Signboard Holdings' IPO 23.6 times subscribed

Singapore

SHARES of seafood restaurant chain No Signboard Holdings were 23.6 times subscribed in its initial public offering (IPO) that closed on Tuesday, the firm said on Wednesday.

The family-owned business, famed for its white pepper crab, will start trading on the Catalist board of the Singapore Exchange at 9am on Thursday, after pricing its shares at S$0.28 apiece, the top end of its indicative range. At this price, No Signboard is valued at 13.9 times its earnings per share for the year ended September 2016.