Mercator Lines is a leading Indian-owned international dry bulk shipping company focused on India and other high growth markets such as China.
This IPO was launched while I was on my annual vacation, thus there is no write up on it.
Anyway, it has proven to be a flop as it was priced at $0.76 eventually, versus an initial indicative price range of $0.76 to $0.94. Even then that did not help as it closed at 60cents on the first day of its debut, which is 21% below its IPO price!
What a disappointment and it further worsen the IPO sentiments in Singapore.