Shares in Info-Tech Systems debuted on the Singapore Exchange’s (SGX) Mainboard at 95 cents on July 4, 9.2% above its initial public offering (IPO ) price. The company is trading under the stock code “ITS”.
The firm offered 24.86 million shares at 87 cents apiece at its IPO, announced the company on July 3.
Shares in the company climbed to an intra-day high of 98 cents at 9.03am before falling to an intra-day low of 90.5 cents at around 2.04pm. Info-Tech Systems' shares eventually closed at 91 cents with some 9.1 million shares changing hands.
At the close of its IPO on July 3, Info-Tech System's total deal size, including the offering as well as the issuance and sale of the cornerstone shares, will raise gross proceeds of about $61.7 million. The amount assumes that the over-allotment option is exercised.
