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ST Group Food

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ST Group Food ends Catalist debut at S$0.28 for first day premium of 7.7%

05 Jul 2019 09:00

By Rachel Mui

ST Group Food Industries Holdings, a regional franchisee for various food brands such as Gong-Cha and Ippudo, closed its first day of trading on the Singapore Exchange's (SGX) Catalist board at S$0.28 on Wednesday, up two cents, or 7.7 per cent from its initial public offering (IPO) price of S$0.26.

The counter opened at S$0.28 and traded within a range of S$0.27 to S$0.285 for the rest of the day. Some 15 million shares changed hands.

Headquartered in Australia, the group also owns franchise and licence rights to brands including PappaRich, NeNe Chicken and Hokkaido Baked Cheese Tart. The SGX debutant's outlets however, are mainly in Australia, New Zealand, Malaysia and the UK - with none in Singapore. 

Following the placement of 30.1 million shares and the issuance of 6.9 million new shares to cornerstone investors, ST Group raised S$9.6 million through its IPO. There was no public offer.

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Source: Business Times

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