Singapore Hot Stocks-CNMC Goldmine soars on debut

SINGAPORE: Shares of CNMC Goldmine Holdings , which operates a gold mine in Malaysia, rose as much as 66 percent above its initial public offering price on Friday in its debut on the Singapore Exchange's Catalist board.

At 0140 GMT, CNMC shares were trading at S$0.565, 41 percent above its IPO price of S$0.40, on a volume of 38.7 million shares. The company's shares were the second-highest traded stock by volume so far on Friday.

CNMC has a gold mine and ore processing facility in Kelantan, Malaysia. It expects to produce 6,000 ounces of gold this year, with output rising to 31,500 ounces next year and 58,100 ounces by 2014.