Singapore-based ZACD Group in modest debut on HKEX

Singapore

SHARES of Singapore-headquartered ZACD Group closed 1.6 per cent higher than its initial public offering (IPO) price of HK$0.32 on Tuesday, its first day of trading on the GEM board of the Stock Exchange of Hong Kong (HKEX).

The asset management company, which offers integrated solutions in real estate in Singapore and Asia-Pacific, opened one Hong Kong cent higher than the offer price at HK$0.33 on Tuesday, and hit an intraday high of HK$0.355, before closing at HK$0.325. A total of about 109 million shares changed hands.