Ten Catalist-listed companies have averaged 56% returns on offer price since IPO

SINGAPORE - Ten companies that recently debuted via an initial public offering on the Singapore Exchange's Catalist have averaged 56.2 per cent returns from their respective initial offer prices.

Of the ten, nine gained while only one declined, and the median return on their stocks was at 43.6 per cent, the SGX said in a release on Monday.

UnUsUal, a subsidiary of mm2 Asia, debuted at 45.5 cents per share on Monday, before ending the session at 43.5 per share, a 117.5 per cent premium to the IPO prices of 20 cents per shares, SGX said.

The top gainer on the list was Acromec whose returns have jumped 137.3 per cent to 52 cents per share from the IPO price of 22 cents in April last year.

AGV Group declined 22.7 per cent from 22 cents to 17 cents since its IPO in August 2016.

Four of the 10 stocks have paid dividends since their distributions and these average returns were as of the market close on April 10, SGX said.

Catalist, one of the two listing platforms in Singapore, which caters to potentially fast-growing businesses. The mainboard lists mostly established businesses.

While there is no quantitative entry criteria required by SGX for Catalist stocks, and businesses seeking a primary listing on Catalist must be brought to list by approved sponsors.