WANG On Group shares closed slightly higher than its issue price on its first trading day under improved market sentiment.
The shares closed at $1.07 per share yesterday in thin turnover worth $6.4 million. About six million shares were traded.
Chairman Tang Ching-ho said that the debut was satisfactory, considering the recent volatility of the stock market.
The share was 16 per cent over subscribed before floatation.
The interior design and renovation company offered 50 million new shares at $1 per share, to repay a mortgage loan and set up a joint venture in China.
The rest of the capital raised from the new issue would be used as working capital.
Mr Tang expected the joint venture in Dongguan to start operating in three months' time.
