Koufu Group Limited Makes Its Stock Market Debut Today
Hello, everyone. Here are three things about the local stock market that you might be interested in today.
1. The Straits Times Index (SGX: ^STI) put on less than a point to end the day at 3,240.5. Of the 30 index stocks, 13 were in the green; 13 were in the red while remaining four finished unchanged.
Keppel Corporation Limited (SGX: BN4) was the best performer of the lot, rising 2.5% to S$6.85. Yesterday, the conglomerate’s wholly-owned subsidiary, Keppel Capital, incorporated three wholly-owned subsidiaries. These three companies are mostly used for investment holding.
On the other hand, the Straits Times Index component that lost the most was Golden Agri-Resources Ltd (SGX: E5H); its shares fell 3.6% to S$0.27.
2. First Real Estate Investment Trust (SGX: AW9U) released its financial results for the second quarter ended 30 June 2018 yesterday.
During the quarter, gross revenue rose 5.3% year-on-year to S$28.9 million, while the net property income went up 5% to S$28.5 million. Distribution per unit climbed 0.5% to 2.15 Singapore cents. To know more about the latest earnings, you can check out the coverage here.
First REIT’s units fell 0.8% to S$1.32 today.
3. Koufu Group Limited (SGX: VL6) made its trading debut today by opening at S$0.65 per share, up from its initial public offering (IPO) price of S$0.63. The public tranche of its shares was 17 times subscribed.
Koufu is an operator and manager of food courts and coffee shops in Singapore. Its brands include the namesake Koufu, CookHouse, and Rasapura Masters. The firm also has a presence in Macau.
Simon Lim, Singapore Exchange’s head of equity capital market (sectors), said:
“Koufu Group Limited is one of Singapore’s most recognisable chain of food courts and coffee shops. We are excited to be the Group’s choice listing platform as it seeks to strengthen its presence in Singapore and overseas, drive productivity through innovation and automation, as well as expand into the online food ordering and delivery space. Koufu’s listing on SGX Mainboard will provide investors with the opportunity to invest in one of Singapore’s most established household F&B brands.”