The Singapore Stock Market Today: Asian Healthcare Specialists Limited and SLB Development Ltd Make Their Trading Debuts

It’s Fri-yay! Here are three things about the local stock market that you might be interested in today.

1. The Straits Times Index (SGX: ^STI), ended Friday at 3,573 points, down 25 points, or 0.7%.

The biggest loser in the index was Venture Corporation Ltd (SGX: V03), which fell 12.2% to S$25.29. The intense fall caused stock exchange operator, Singapore Exchange, to issue a query about the price movement. As of the time of writing, Venture has not replied.

On the other hand, the Straits Times Index component that gained the most was Golden Agri-Resources Ltd (SGX: E5H). The palm oil producer’s shares rose 2.9% to S$0.35.

2. Asian Healthcare Specialists Limited (SGX: 1J3) made its trading debut today at a price of S$0.345 per share, up significantly from its listing price of S$0.23. The company did not make any shares available for the public; all of its IPO shares were placed out to certain investors.

Asian Healthcare Specialists is made up of five senior and experienced orthopaedic medical specialists operating at four clinics under The Orthopaedic Centre. Together, they provide a wide range of general and sub-specialised orthopaedic, trauma, and sports services such as knee and hip replacements, sports medicine and surgery, spine surgery, foot and ankle surgery, and minimally invasive orthopaedic procedures.

The company’s executive chairman and chief executive, Dr Chin Pak Lin, said about the listing:

“This IPO [initial public offering] marks a major milestone for the Group as we work towards our goal of giving movement, quality and life to years. Most orthopaedic disorders are age-related, and given the ageing population in Southeast Asia, we believe there will be continued strong demand for high quality orthopaedic services such as those provided by our Group.

We are a group of experienced and highly qualified orthopaedic specialists within each of our own subspecialty. As we forge ahead, we plan to do highly subspecialised care, to provide better orthopaedic care for patients. We are grateful for the strong support received from the investment community and we hope that this listing will bring us closer towards our dream of forming a musculoskeletal centre.”

Shares of the company closed at S$0.34 apiece today. You can head here to know more about the IPO.

3. Another company, SLB Development Ltd (SGX: 1J0), got listed today as well. SLB is a diversified property developer and is a spin-off from Lian Beng Group Ltd (SGX: L03). SLB’s shares opened at S$0.26 each today, which was also above its IPO price of S$0.23.

Mohamed Nasser Ismail, who heads the equity capital market and capital market development departments at the Singapore Exchange, said:

“We are delighted to welcome the listing of SLB Development Ltd on Catalist, a homegrown property developer with an established track record in developing quality and well-designed properties, and look forward to supporting the company as it expands internationally. SLB Development and Lian Beng recognise the distinct advantages Catalist and Mainboard bring, and we hope they will continue to tap on their respective listing platforms to grow their businesses.”

SLB’s shares ended the day at a price of S$0.25 each. To know more about the IPO, you can head here.

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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 in Singapore Exchange Limited.