Automotive Group Vin’s Holdings Shares Rise On IPO Debut In SGX’s First Listing Of 2025
Vin's Holdings (SGX:VIN) has fully placed 20 million shares at SG$0.3 each in its initial public offering, raising SG$6 million, according to a Monday filing on the Singapore Exchange.
Its shares were trading up 11% to S$0.35 as at 9.55am after 438,000 securities changed hands, above its IPO price of S$0.30.
The offering drew strong demand, with net proceeds of SG$4 million. About S$3.2 million will go toward IT upgrades, showroom and service expansion.
Vin's plans to pay out 75% of its FY2024 net profit, including a one-off special dividend.
Based on its post-IPO share capital of 131.1 million shares, Vin's market value stands at SG$39.3 million. RHB Bank (KLSE:RHBBANK) is the issue manager and placement agent.
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