Shares in construction company Soilbuild Construction Group Ltd
jumped as much as 56 percent on its debut in Singapore
and were the top traded.
Soilbuild rose to a day high of S$0.39 from its offer price
of S$0.25. The company had offered 168 million new shares to
raise nearly S$40 million ($31.6 million), mainly to replenish
working capital, it said in its prospectus.
Soilbuild said it had won two contracts in Myanmar and
expects to further expand in the country that has opened up for
foreign investors after decades of isolation.
Based on Monday's price, the company has a total market
value of about S$259 million.