Dezign Format soars more than 40% in Catalist trading debut

Spatial design specialist Dezign Format on Aug 15 surged more than 40 per cent in its trading debut on the Catalist board of the Singapore Exchange (SGX).

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The shares opened at 26.5 cents apiece. At 9.02am, the counter was up 37.5 per cent at 27.5 cents from its initial public offering (IPO) price of 20 cents, before climbing to 28 cents by 9.06am.

It reached a high of 28.5 cents at 9.06am, up 42.5 per cent, and then eased to 28 cents at 9.07am, after 4.4 million securities changed hands. The stock closed at 28 cents with 10.7 million shares traded.

The design agency's placement of 32.5 million shares at 20 cents apiece amounted to $6.5 million, and were fully subscribed as at 12pm on Aug 13.