Vin's Holdings (SGX:VIN) closed at SG$0.35 in its trading debut on the SGX, up 16.7% from its IPO price of SG$0.3, according to a Tuesday filing on the Singapore Exchange.
The stock touched an intraday high of SG$0.37.
The initial public offering, comprising 20 million placement shares, raised about SG$4 million in net proceeds. The company plans to allocate SG$2 million to digital upgrades, SG$1.2 million to expand its retail and after-sales footprint, and the remainder to working capital.
At the closing price, Vin's market value stood at about SG$45.9 million.
The group aims to pay out 75% of FY24 net profit, including a one-time special dividend, subject to shareholder approval at its AGM in May 2025.
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