SINGAPORE, April 25 Shares of Singapore's Global
Premium Hotels Ltd traded 13.5 percent higher than
their initial public offering price as the company made its
market debut on Thursday.
Over the past few weeks, some Singapore IPOs have fared well
on their trading debut, encouraged by a firm market. Global
Premium shares traded at S$0.29 in volume of more than 77
million shares, topping the list of most actively traded stocks.
Global Premium, the hospitality arm of Fragrance Group Ltd
, raised S$117 million after issuing 450 million new
shares at S$0.26 each.
The company operates 23 mid-range hotels in Singapore,
mostly under the "Fragrance" brand.
(Reporting by Charmian Kok; Editing by Anshuman Daga)