Sheng Siong IPO raises S$116m

The supermarket operator sold 351.5m shares.

A Reuters report said, “Shares of Singapore supermarket operator Sheng Siong opened 3 percent below its initial public offering price of S$0.33 in its Singapore debut on Wednesday. After opening at S$0.32 a share, Sheng Siong shares edged up to S$0.33 at 0101 GMT on a volume of 9.7 million shares.”

Sheng Siong is expanding its grocery retailing operations in Singapore and overseas.

View the report here.

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