No Signboard Holdings Ltd., a food and beverage brand in Singapore, commenced trading on the Catalist board with its stock opening at 31 cents, 10.7 per cent above the issue price.
No Signboard Holdings Ltd. operates a chain of seafood restaurants under the No Signboard Seafood brand, a beer business and a ready meal service.
The public tranche of its initial public offering (IPO) was 268.6 times subscribed based on valid applications for 671.4 million for the 2.5 million offer shares available to the public for subscription.
Overall, total valid applications for 1.55 billion shares were received for the 65.7 million shares on public offer and placement offer, making the IPO 23.6 times subscribed.
In a statement, Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development at SGX, said, this “listing will not only strengthen SGX’s consumer cluster, but also offer investors an opportunity to participate in the continued growth of Singapore’s F&B industry.”
With a market capitalisation of S$130 million ($96.5 million), the listing of No Signboard Holdings brings the total number of consumer companies listed on SGX to 150. In aggregate, there are 198 companies listed on the Catalist with a combined market capitalisation of over S$12 billion ($8.91 billion).