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Hot stock: Singapore O&G doubles on trading debut
HEALTHCARE firm Singapore O&G (SOG) more than doubled on its trading debut on the Catalist board on Thursday.
The counter opened at S$0.455, and surged to S$0.555 at 9.25am, some 122 per cent above its initial public offer price of S$0.25. Some 31.4 million shares worth S$16 million changed hands, making it the most active stock on the Singapore Exchange.
SOG specialises in women's healthcare, and currently has eight clinics in Singapore. It plans to use the net proceeds of about S$9.2 million to invest in healthcare professionals and synergistic businesses such as paediatry.
The group's net profit rose to S$4.25 million in its 2014 financial year, up from S$3.12 million in 2013, while revenue grew from S$8.64 million to S$13.55 million.
Hong Leong Finance is the underwriter and placement agent for the IPO.
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