Sino Construction falls 7.7% in S’pore debut

Sino Construction falls 7.7% in S’pore debut

 

SINGAPORE – Sino Construction, which has building and civil engineering projects in China’s Daqing City, opened 7.7 per cent below its initial public offering price of $0.39 (US$0.28) in its market debut on Thursday.

 

The stock was trading at $0.365 by 0103 GMT after opening at $0.36.

 

The company, which plans to use most of its $35.6 million in net proceeds to buy equipment, said its offering was approximately 1.03 times subscribed.

 

HL Bank is the underwriter, issue and placement manager of the public offering. — REUTERS

 

Source: Straits Times

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s