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Events: JK Tech’s Shares Soar in First-day Trading on SGX Catalist

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by Jared Heng

JK Tech Holdings Limited marked its listing Monday on Singapore Exchange’s (SGX) Catalist with a gong-striking ceremony at the exchange.

Established in 1990, the Singapore-based IT solutions provider serves two main business segments ‒ supply and delivery of software and hardware, and systems integration.

JK Tech on November 4 launched its initial public offering of 10 million shares at S$0.20 each on SGX.

All the shares were fully subscribed at the close of the IPO on November 10.

Under the stock code ‘5TS’, JK Tech’s shares, which started trading at around 9 am on Monday, closed at S$0.315 on first-day trading, which was a 57.5-per cent premium to the IPO price.

Speaking at the ceremony, Eugene Ang, Managing Director of JK Technology, said: “It is gratifying to know that we have attracted strong interest from investors despite the volatile stock market and the financial and political situation which affects Europe and the rest of the world.”

JK Tech brings the total number of Catalist companies to 135.