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Secura opens lower on trading debut

SECURITY solutions provider Secura Group, which made its debut on the Catalist board of the Singapore Exchange on Thursday morning, opened at 24.5 Singapore cents before sliding to 24 cents in early trading.

This was below its initial public offering (IPO) price of 25 cents per share. Some 17.61 million shares had changed hands by 9.51am.

Meanwhile, Secura's warrants were trading at S$0.01 around the same time.

Each Secura share came with two detachable warrants, with the warrants trading separately on Catalist. Each warrant can be converted to one new share at an exercise price of S$0.35 during its three-year exercise period.

Secura Group said its initial public offer was approximately 2.2 times subscribed.