Vin's Holdings Makes Trading Debut on SGX Catalist; Shares Gain 17%
Vin's Holdings made its trading debut on the SGX Catalist, closing at SG$0.35, a 16.7% increase from its IPO price of SG$0.30. The stock reached an intraday high of SG$0.37. The IPO raised approximately SG$4 million, with plans to invest SG$2 million in digital upgrades and SG$1.2 million in retail expansion. Vin's market value is around SG$45.9 million, and it aims to distribute 75% of FY24 net profit, including a special dividend, pending shareholder approval in May 2025.
Vin's Holdings 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.
