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Shares of food and beverage firm Katrina Group on Tuesday surged 83% to S$0.385 on its trading debut from its initial public offering (IPO) price of S$0.21. Nearly 22 million shares changed hands as at 10.13am.
The Catalist-listed group (stock code: 1A0) placed out 35.8 million new shares to raise gross proceeds of S$7.5 million.
Katrina is a Singapore-based food & beverage (F&B) group with multi-cuisine concepts. Katrina’s brands serve cuisines of different ethnicity, ranging from Indonesian, Thai, Hong Kong, Yunnan, northern Chinese, Mexican to Vietnamese, catering to a wide spectrum of patrons and market segments.
With a history dating back to 1995, Katrina operates 32 restaurants in Singapore and two restaurants in the People’s Republic of China, under nine different F&B brands, namely, Bali Thai, Streats, Honguo, So Pho, Indobox, Muchos, RENNthai, Bayang and Hutong.
Alan Goh, Founder, CEO and Executive Chairman of Katrina said:
Katrina’s listing today marks a whole new chapter in our corporate journey. We believe that our recipe for success and in remaining resilient over these years stem from offering a good variety of quality and mid-priced F&B concepts that appeal to a wide spectrum of patrons and different market segments.“