Midas gains on SGX ahead of Hong Kong debut

The share price has increased 7.3% since its Hong Kong offering price was fixed at HK$5.43 last Tuesday.

Singapore-listed Midas Holdings, which raised HK$1.19 billion $155 million from a share sale in Hong Kong last week, has resumed its upward momentum ahead of its Hong Kong listing today, suggesting investors are confident that China’s rapidly expanding infrastructure build-out will benefit the Chinese railway product supplier.

Midas manufactures aluminium alloy extrusion products which are primarily used for high-speed trains and metro-train car bodies. Last year it had a 66% domestic market share within this industry.

Midas's share price has gained 7.3% since its Hong Kong offering price was fixed at HK$5.43 last Tuesday September 28. The final price is equal to about S$0.93 per share and represents a 7% discount to...

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