Hot stock: Aoxin Q&M opens 3 cents higher than IPO price in Wednesday's debut

AOXIN Q&M Dental Group made its debut on Wednesday, opening at 23 Singapore cents from its inital public offering price of 20 Singapore cents.

As of 10.09am, the bid price was 23.5 Singapore cents and ask price 24 Singapore cents, with more than 10.6 million shares traded.

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. Its dental equipment and supplies distribution network covers Liaoning, Heilongjiang and Jilin provinces in northern China.

Dr Shao Yongxin, executive director and 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."