Grand debut for coffee shop owner on Singapore Exchange
Singapore’s largest traditional coffee shop operator marked a stellar debut on the Singapore Exchange, or SGX, with shares trading 120 per cent above its initial public offer (IPO) price on debut.
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 (£0.32), well above its S$0.25 cents (£0.14) offer price.
“We are heartened by the reception that we have received for our IPO and look forward to further enhance and grow our operations to reward our shareholders,” said Kimly Limited Executive Director Vincent Chia.
“With our listing, we now reach out to an even bigger market who can partake in the flavours of Kimly not only as customers but also as our shareholders.”