Wing Lee Holdings

PUBLISHED : Thursday, 10 April, 1997, 12:00am
UPDATED : Thursday, 10 April, 1997, 12:00am

Switch and socket maker Wing Lee Holdings is poised to make a successful debut today, despite cautious sentiment, analysts say.

Shares fetched between $1.60 and $1.90 on the grey market yesterday, against an issue price of $1.

Henyep Securities research manager Charles Cheng said: 'It will trade [on opening] at $1.60 to $1.80 and then profit-taking will set in.' He said support should be found at $1.30.

Other brokers suggested the counter would breach $2 before falling back.

Mr Cheng said a small issue size and strong subscription rate of 312.9 times for the public portion of the offer would support an advance.