Shares of Singapore coffee shop owner perk up on debut

by 11:30 PM 0 comments
"Kimly issued 173.
8 million new shares, representing 3.
8 million offer shares for 25 cents each and 170-million placement shares for the same price.
Singapore`s largest traditional coffee shop operator marked a stellar debut on the Singapore Exchange, or SGX, with shares trading 120 percent above its initial public offer (IPO) price on debut.
The two funds collectively hold 25-million conversion shares in the company, representing 2.
17 percent of its post invitation share capital.
The Temasek Holdings unit Heliconia Capital Management was a pre-IPO investor in the chain via its agreement with Vanda 1 Investments.
As well-caffeinated senior executives stood side by side for the ceremonial banging of the gong at the commencement of SGX trade, the gathered crowd hollered and applauded in surprise as the stock surged to S$0.
55 Singapore cents, well above its S$0.
25 cents offer price.

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