S'pore-listed Centraland debuts 10 pct above IPO price

SINGAPORE, Feb 1 (Reuters) - Shares of Chinese property developer Centraland started trade at S$0.55 on Friday, 10 percent above its initial public offering price of S$0.50 per share.

At 0100 GMT, Centraland's shares had further risen to S$0.56, 12 percent above the IPO price.

The company, which raised S$122.5 million ($86.5 million) at its IPO, plans to use the proceeds to fund acquisitions and expand into new geographical regions.

Boulton Capital Asia was the issue manager and UOB KayHian was the underwriter and placement agent for the IPO.