NoonTalk debuts 2.3% higher before ending day at IPO price of S$0.22

MEDIA entertainment company NoonTalk debuted on the Singapore Exchange (SGX) Catalist board at S$0.225, 2.3 per cent above its initial public offering (IPO) price of S$0.22, before closing at its IPO price on Tuesday (Nov 22).

This gives the stock a market capitalisation of S$43.6 million. The counter trades at 1,946 times its FY22 net profit of S$22,407.

The company had earlier sold 22 million new shares, comprising 4.5 million public offer shares and 17.5 million placement shares. The offering raised gross proceeds of S$4.8 million, or S$3.3 million in net proceeds.