SINGAPORE (June 26): Pahang-based iron-ore producer Southern Alliance Mining (SAM) made its debut on the Singapore Exchange’s (SGX) Catalist board on Friday, at 26 cents. This is up a cent or 4% from its 25 cent initial public offering (IPO) price.

The company lodged its prospectus on June 16 and was looking to raise $19 million with an all-placement offer of 76 million shares. Of this, 56 million are new shares, while the remaining 20 million are vendor shares sold by SAM’s CEO and executive director Pek Kok Sam. 

Collectively, they represent about 15.5% of SAM’s enlarged post-IPO share capital of 489 million shares.

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