SINGAPORE – Catalist-listed TrickleStar opened at $0.265 on its trading debut on Tuesday (June 18), up 1.9 per cent from its initial public offering (IPO) price of $0.26.
As at 10.05am on Tuesday, the counter was trading at $0.265.
With a market capitalisation of about $21.3 million, TrickleStar’s listing brings the total companies listed on the Catalist board to 218, with a combined market capitalisation of about $10 billion.
The company is in the business of designing and supplying energy-saving products. Its portfolio of energy saving products includes advanced powerstrips, load controllers, energy meters, energy monitors and surge protectors.
TrickleStar executive chairman and chief executive Bernard Emby said the IPO would enable the firm to access capital for our next growth phases, as it looks to increase market share, develop new markets and products, and deliver value to shareholders.
“With growing awareness about energy efficiency and the expansion of state-funded energy efficiency programmes in the US, we put our expertise into developing cutting-edge energy-saving products and the building of strong customer and supplier relationships, bringing TrickleStar to where it is today,” he added.
Mohamed Nasser Ismail, Singapore Exchange’s (SGX) head of equity capital markets, added: “As consumer awareness on carbon footprint grows, energy saving products in homes and workplaces are gaining popularity. With the growing level of environmental awareness, SGX looks forward to supporting TrickleStar as it continues to develop next generation energy-saving products.”