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12% drop on the first day of listing is concerning. Bursa should investigate whether the IPO valuation was excessive or if there are any questionable elements within the company.
Orkim was also initially dropped during IPO but just for awhile then back up with strong support. This one is ridiculously dropping for 3 consecutive days seems like not much of confidence or support from the main shareholders/financial institution. Is it too pricey or overvalued? If yes, then is SC or Bursa whose approved the listing be accounted for...
