After the book-building the share price was now adjusted to RM2.60 for the institutional buyers while retail buyers got it for RM2.52 with a cash return of RM380.
With baited breath, we awaited the opening price on opening day which the analysts said will be about RM3.20. Starting at RM2.62, it went hay-wire and slid. It was a really dog day for us minority shareholders!
It is now at a new low of RM2.45 even after the parent company in Australia upped its holding while the local counterpart also pitched in.
So, who is selling? Suckers..............?
Something is amiss! Is it an IPO folly?
2 comments:
Hahaha, those selling must have got it free ..perhaps!
Whatever their reason,they are generally weak holders and have taken cut-lost positions.
My take is that those who hold on would in the medium term not lose out at all as this is a stock invested by the EPF, institutions and UOA of Australia.
The tenacity to hold through this soft period should be the strategic stance to adopt.
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