FOOD court operator Koufu Group on Wednesday made its debut on the Singapore Exchange’s (SGX) mainboard at S$0.65, 2 cents or 3.2 per cent up on its initial public offering price of S$0.63 according to ChannelNewsAsia.

The wider Straits Times Index also opened higher on Wednesday, up 0.4 per cent at 3,251.28.

With a market capitalisation of about S$350 million, Koufu Group Limited’s listing will boost SGX’s consumer cluster to a total of 152 listings with combined market capitalisation of more than S$135 billion.

Pang Lim, Koufu’s executive chairman and chief executive officer, said its listing was “a vote of confidence for our group and a recognition of our established track record and growth plans.”

At the close of Koufu’s public offer at 12 noon on July 16, 3,170 valid applications were received for 107.7 million shares. Application monies received amounted to about S$67.8 million, translating to the public offer being …