Spackman thrills on debut while First Sponsor falls

SPACKMAN Entertainment Group - a Korean film production company - made a sterling trading debut on the Catalist board yesterday.

In contrast, real estate firm First Sponsor Group sank below its initial public offering (IPO) price on the mainboard.

The stock of Spackman was up as much as 86.5 per cent from its IPO price of 26 Singapore cents just before trading closed. It opened at 38.5 Singapore cents before shooting up to 41 Singapore cents by noon. It then hit the day's high of 48.5 Singapore cents at 4.58 pm before closing at 46.5 Singapore cents. Over 127.6 million shares changed hands.