SHARES of container crane leasing and sale company Portek International have made their debut on the Singapore Exchange.
Portek launched its initial public offering of 36 million new shares on 18 March. Shares began trading at S$0.34 (US$0.19), compared with an IPO price of S$0.30.
The company plans to use S$3.3m of the S$7.25m expected in net proceeds from the IPO to set up new offices in Australia, North America and the Middle East and to expand into offshore crane operations, as well as to develop existing businesses.
