Update: Anchor Resources in downward spiral after debut

Anchor Resources hit a low of 14.5 Singapore cents in trading Friday afternoon after debuting on the market at 18.2 Singapore cents in the morning. As at 2.40pm, the counter stood at 14.9 Singapore cents. It eventually closed at 14.6 Singapore cents.

The company launched its initial public offering (IPO) of 28.8 million placement shares at 25 Singapore cents each on March 9. All its shares were fully subscribed.