By Bernadette Toh and Dave Sebastian
(Bloomberg) — UltraGreen.ai’s shares jumped as much as 12 per cent in their trading debut Wednesday after an initial public offering that was the biggest in Singapore since 2017 outside real estate investment trusts.
The company, which provides fluorescence technology used in surgical imaging, had priced shares at $1.45 apiece and raised $400 million in its debut. The shares closed 4.8 per cent higher on their first day of trading.
UOB Kay Hian Pte initiated coverage with a buy call and price target of $2, as it sees strong profit growth driven by improving pricing power and expanding geographies.
