OUE Hospitality Trust rounds out debut at 88 cents, flat on IPO price

OUE Hospitality Trust closed flat on its debut on Thursday, amid a weak general market and many punters looking to offload their units on the first day of trade.

After being listed at 2pm, the counter ended the session at 88 cents - unchanged from the initial public offering price.

Units traded in a tight band throughout the day, hitting an intra-day high of 89 cents within the first minute of trade before falling to a low of 87.5 cents.

The counter finally closed flat at its IPO price.

"It was hard for the (OUE Hospitality Trust) share price to move up on the first day of trading," said local remisier Rieve Ko.

"There was a lot of supply coming into the market," Mr Ko added, referring to punters which had been allocated the units during the IPO and were looking to resell them on the first trading day.