Singapore's Union Gas jumps 18% on market debut

Fuel products provider shares opened at S$0.295

union gas
Union Gas

Shares of Union Gas Holdings rose as much as 18 upon listing on Friday.

Fuel products provider shares opened at S$0.295 compared to their offer price of S$0.25, data from the Singapore Stock Exchange showed.

Its IPO was subscribed 7.1 times. Union Gas will use net proceeds of S$5.72 million to acquire dealers for the retail liquefied petroleum (LNG) gas business.

Union Gas is a major supplier of bottled LPG cylinders for domestic use in the city-state and serves over 140,000 households.

union gas
Union Gas

Shares of Union Gas Holdings rose as much as 18 upon listing on Friday.

Fuel products provider shares opened at S$0.295 compared to their offer price of S$0.25, data from the Singapore Stock Exchange showed.

Its IPO was subscribed 7.1 times. Union Gas will use net proceeds of S$5.72 million to acquire dealers for the retail liquefied petroleum (LNG) gas business.

Union Gas is a major supplier of bottled LPG cylinders for domestic use in the city-state and serves over 140,000 households.

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