Hot stock: Katrina Group surges on trading debut

SHARES of food and beverage firm Katrina Group on Tuesday surged 83 per cent to S$0.385 on its trading debut from its initial public offering (IPO) price of S$0.21. Nearly 22 million shares changed hands as at 10.13am.

The Catalist-listed group placed out 35.8 million new shares to raise gross proceeds of S$7.5 million.

Katrina started off as a small stall named Katrina Nasi Padang at the Junction 8 shopping mall's Food Junction, and now owns and operates 32 restaurants in Singapore and two in China.