SINGAPORE (Nov 26): Trendlines Group, the Israeli creator, developer and investor in medical and agricultural technology companies, opened at 34 cents on its trading debut on Wednesday.

Trendlines is also 100th new listing on Singapore Exchange’s Catalist board since it was officially launched in Nov 2007.

As at 10.35am, the stock is trading at 33.5 cents with 19.5 million shares transacted.

In its IPO, Trendlines offered 75.8 million shares at 33 cents each to raise $25 million gross proceeds.

The offer price is pegged at 1.4 times the price-to-book ratio of Trendlines’ net tangible assets value as of Jun 30.

Trendlines started operations in 2007 and has since established and incubated 60 portfolio companies.

Trendlines says it will use to proceeds raised to expand Trendline Labs and invest in current and new portfolio companies.

In addition, it expects to use $5 million of the capital to establish new incubators, including one in Singapore by 2016.