Aoxin Q&M up as much as 27.5% in debut trading

Singapore

AOXIN Q&M Dental Group made its Catalist trading debut on Wednesday, with its stock trading as high as 25.5 Singapore cents, 27.5 per cent up from its inital public offering price of 20 Singapore cents.

The stock closed trading at 24 cents, up 20 per cent after 15.6 million shares changed hands. The intra-day low was 22.5 cents.

The company is a dental business in China that was spun off from listed entity Q&M. It operates and manages 11 dental centres comprising four dental hospitals and seven polyclinics across four Liaoning cities.

Currently, it has 240 dental professionals, comprising 113 dentists and 127 dental surgery assistants. Its dental equipment and supplies distribution network covers Liaoning, Heilongjiang and Jilin provinces in northern China.

Dr Shao Yongxin, group chief executive officer of Aoxin Q&M Dental Group, said: "This listing marks an important milestone for Aoxin Q&M and we believe it will further enhance the group's abilities to take advantage of the opportunities that emerge in the fast-growing private dental industry in the PRC (China).

"As the first SGX-listed private dental group from the PRC, we believe that this will enhance our public image locally and internationally."

For FY2015 ended December, Aoxin recorded a net profit of 540,000 yuan (S$109,900), while revenue was 46.5 million yuan, up 87.5 per cent year on year. For the first nine months of FY2016, it posted a net loss of 102,000 yuan, while revenue was 61.5 million yuan.

Pre-placement earnings per share (EPS) stood at 0.04 Singapore cent in FY15, while post-placement EPS was 0.03 Singapore cent.

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