Sports events group Kin Global closes 15.2% above IPO price in Catalist debut

[SINGAPORE] Shares of sports events management company Kin Global rose as much as 19.6 per cent in their trading debut on the Catalist board on Thursday (Apr 23).

The counter rose to an intraday high of S$0.275, 19.6 per cent or S$0.045 above the initial public offering (IPO) price of S$0.23 a share. (*See amendment note)

It later finished the day at S$0.265, 15.2 per cent or S$0.035 above its IPO price, with close to 12.5 million shares traded.

The strong debut follows a robust 29.5 times subscription for its public offer tranche of one million shares.

Kin Global received 419 valid applications for a total of around 29.5 million shares, with application monies amounting to about S$6.8 million.

The placement tranche of 23.9 million shares drew a subscription of about 2.9 times.

In total, the IPO raised gross proceeds of S$10.1 million, including a cornerstone tranche of 19.2 million shares.

The cornerstone investors include Amova Asset Management Asia, Apricot Capital, Asdew Acquisitions, Qilin Wealth Fund and Rudolf Jurgen August Rolles.

The Singapore-based company – which counts the World Aquatics Championships, Fide World Chess Championship Singapore 2024 and Singapore 2024 World Taekwondo Virtual Championships as projects under its belt – is the third company to list on the Catalist board this year, after The Assembly Place and Toku.

SEE ALSO

Kin Global’s public offer of 1 million shares 29.5 times subscribed at S$0.23 a share

The group intends to use the net proceeds of about S$7.4 million to scale its business through mergers and acquisitions, joint ventures and strategic alliances, specifically targeting the broader events tourism sector. A portion of the funds will also be used for general working capital to support participation in larger-scale tenders.

The group does not currently have a fixed dividend policy, but the company previously indicated its intention to recommend dividends of not less than 20 per cent of its net profit after tax for the financial year ended Jun 30, 2025, and 30 per cent for FY2026.

SAC Capital is the sponsor, issue manager, underwriter and placement agent for the IPO.

Amendment note: A previous version of this story incorrectly stated the counter’s intraday high on Apr 23.