Vin’s Holdings share price closed 16.7% higher at 35 cents on its debut trading day of Apr 15.
The car dealership company, which is listed on the Singapore Exchange ’s Catalist board, opened on April 15 at 31.5 cents. This is 5% above its placement price of 30 cents.
It reached an intraday high of 37 cents, and closed at 35 cents.
All of Vin’s Holdings’ 20 million placement shares were fully subscribed, and the company raised $6 million at the close of application list on Apr 11.
Of the net proceeds raised of $4 million, the company says that it will use about $3.2 million for enhancement of IT and services, and the expansion of showrooms, workshops and after-sales services.
The group’s expansion plans are underpinned by a resilient balance sheet and a strong net asset position of $23.3 million as at Sept 30, 2024, as well as cash and cash equivalents of $11.2 million as at Feb 28, 2025.
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The group’s largest revenue contributor is automotive sales and related services.
Vin’s total issued share capital now comprises 131,111,110 shares with a market capitalization of $39.3 million.
Shares in Vin’s Holdings closed flat at 35 cents on Apr 15.
