Hot stock: Aspen falls 3.8% after mainboard transfer, Companies & Markets

Hot stock: Aspen falls 3.8% after mainboard transfer, Companies & Markets

Thu, Jan 28, 2021 - 12:44 PM SHARES of Malaysian property developer Aspen (Group) Holdings shed more than 3 per cent on the company's trading de

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Thu, Jan 28, 2021 – 12:44 PM

SHARES of Malaysian property developer Aspen (Group) Holdings shed more than 3 per cent on the company’s trading debut as a mainboard-listed firm after transferring from the Singapore Exchange’s (SGX) Catalist board.

As at 11.58am on Thursday, the counter dropped 3.8 per cent or one Singapore cent to 25.5 cents, with some 4.6 million shares changing hands.

No married deals were recorded before the midday break, Shareinvestor data showed.

Aspen was listed on SGX’s Catalist board via an initial public offering on July 28, 2017.

Said M Murly, Aspen’s president and chief executive officer: “We are pleased to announce that we have officially moved to the mainboard after trading on the Catalist board for the last 3.5 years. Our intention for the move was to increase the group’s exposure and improve our access to the larger capital markets including institutional and retail investors.”

He added that the group recently diversified into the healthcare sector with the manufacturing and distribution of gloves. Earlier this month, the group…



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