Shares of engineering services company PEC soared on its debut on the Singapore Exchange today.
It's the first Mainboard listing this year.

At the close of trading, PEC's share price was 72 cents a piece - up by 80 percent against the issue price of 40 cents.

It was also the third most actively traded counter today, with a transaction volume of over 81 million shares.

Observers say the stock's healthy performance bodes well for investor confidence, especially since the initial public offering market has been relatively quiet this year.

But some traders say the impressive showing could be due to PEC's lower share price compared to competitors like Rotary Engineering and Yongnam Holdings.

PEC is an engineering firm that provides project works and maintenance services to the oil and gas, petrochemical and pharmaceutical industries in Asia and the Middle East.