Singaporean chilli crab restaurant No Signboard jumps 11% on trading debut

Shares in No Signboard Holdings Ltd, known for its signature white pepper crab dish, jumped as much as 11 percent above the IPO price in Thursay's debut.

No Signboard
Image for representation purposes only. Reuters

Shares in No Signboard Holdings Ltd, known for its signature white pepper crab dish, jumped as much as 11 percent above the IPO price in Thursay's debut.

At 0140 GMT, No Signboard shares were traded at S$0.31 on the Singapore Exchange compared to its IPO price of SS$0.28, with nearly 38 million shares changed hands.

No Signboard IPO was subscribed 23.6 times. The public and placement tranches combined were 23.6 times subscribed, after counting indications of interest received for the placement shares.

The offering raised about S$19 million of net proceeds, which will be used toward developing the company's beer operations, which sell proprietary brews under the Draft Denmark brand, as well as establishing a new chain of casual dining restaurants and expanding its ready meal business.

Earlier this month, Japanese restaurant group RE&S Holdings, which operates brands such as Kuishin Bo, got listed on the SGX, with its shares soaring 64 percent above the IPO price in trading debut.

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