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The Singapore Stock Market Today: APAC Realty Makes Its Debut

Hello, Fools! Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), ended the day at 3,224.49 points, down 11.66 points or 0.4%.

The biggest loser in the index was StarHub Ltd (SGX: CC3), falling 1.5% to S$2.61. Its rival, Singapore Telecommunications Limited (SGX: Z74), was also in the red. It slumped 1.1% to S$3.67, inching closer to its 52-week low price.

On the other hand, the STI component that gained the most was land transport outfit, Comfortdelgro Corporation Ltd (SGX: C52). The firm’s shares zoomed up 2.3% to S$2.04.

2. APAC Realty (SGX: CLN) made its trading debut today at S$0.695, up from its initial public offering (IPO) price of S$0.66. The public offering was around 29 times subscribed.

The firm is a real estate services provider that has three main business segments – real estate brokerage services; franchise agreements; and training, valuation and other ancillary services.

The real estate brokerage services are operated by its wholly-owned subsidiary, ERA Realty Network Pte Ltd, under the ERA brand. ERA Realty is one of the largest real estate agencies in Singapore.

Jack Chua, chief executive officer of APAC Realty, said:

“We are truly excited to bring APAC Realty to the market as the only listed real estate brokerage on the Singapore Exchange. Underpinned by a resilient business model, a recovering Singapore real estate market and an experienced and dedicated management team, the Group offers investors the opportunity to invest in an industry pioneer with a solid track record of 35 years of growth.”

Shares of the company closed at S$0.76 today, soaring some 15% as compared to its IPO price.

3. Mencast Holdings Ltd’s (SGX: 5NF) shares ballooned 17.7% to S$0.193 before the company called for a trading halt at mid-day. Earlier in the morning, the stock exchange queried the firm regarding its robust trading activity.

Mencast is a maintenance, repair and overhaul solutions provider to the offshore, marine and oil & gas sectors.

As of the time of writing, the firm’s shares are still under trading halt.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares of Singapore Exchange Limited.