SINGAPORE - Catalist-listed Katrina Group had a strong trading debut on Tuesday (July 26).
The countee surged 83 per cent to 38.5 Singapore cents from its initial public offering price of 21 cents as of 2pm. Around 36 million shares changed hands after it commenced trading at 36 cents.
"We are encouraged by the enthusiastic response from investors and from the very promising start at the stock market today," said Alan Goh, chief executive and executive chairman of Katrina Group.
"It is a sign of confidence in Katrina's competitive edge and our proven track record over the years. This will drive us further to continue doing well in our business and to constantly grow because our investors are banking on us," he told The Straits Times.
Katrina Group raised gross proceeds of S$7.5 million through placing out 35.8 million new shares.
The group had a modest start with its Katrina Nasi Padang stall at Junction 8 shopping mall's food court more than 20 years ago. Today, it owns and operates 32 restaurants in Singapore and two in China under nine brand names. They are Hutong, Honguo, RENNThai, Bali Thai, Bayang, Indobox, Streats, So Pho and Muchos.