Singapore, Sept 5 - Shares of alcohol producer Trump Dragon Distillers Holdings fell 3.2 pct in its trading debut on Friday.
Trump Dragon shares opened at S$0.30 against an initial public offering price of S$0.31. but soon covered losses to rise over the IPO price.
By 0102, shares of Trump Dragon were trading at S$0.33, 6.5 percent higher than its IPO price with 7.8 million shares changing hands. The broader Straits Times index was down 2.6 percent.
Trump Dragon Distillers, which raised S$2.5 million in its listing, produces and sells baijiu, a popular Chinese alcoholic beverage, in China. The company intends to utilise the IPO proceeds to expand its production capacities and facilities and to enhance its brand and product value.
Boulton Capital Asia was the underwriter for the listing.