millionairemind wrote:I wonder Y anyone would want to invest in this company.
The stock has done nothing but go down since listing.
Perhaps the punters will turn to this stock after they are done with the UPP, Rowsley, Juken Tech etc...etc....
wa lau!... I am APPALLED looking at its Mary's chart... $0.30+ to $0.10 ...
Let's take the time-machine back and look at the old news...
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Mary Chia shares surge 48% to 34 cents on trading debutBy Rachel Kelly, Channel NewsAsia | Posted: 11 August 2009 2306 hrs
SINGAPORE: Shares of lifestyle and wellness firm Mary Chia
surged 48 per cent to 34 Singapore cents on its first day of trade. The stock was the fourth most active counter, with over 56 million shares traded on the Singapore Exchange's Catalist board.
But experts said listings on the new board are still having a tricky time, as investors remain cautious in the wake of the global financial crisis.
Mary Chia had raised about
S$3.9 million in net proceeds from its offering of nearly 25 million shares at
23 cents each. It plans to pump over 25 per cent of the net proceeds raised from the placement to acquisitions and a further 25 per cent to expand its beauty, wellness and slimming treatment centres overseas.
Mary Chia's CEO, Wendy Ho, said: "
I think the investors will support us in terms of our expansions. I think we have achieved critical market in Singapore. Moving forward, we will also
like to expand our business to higher growth markets such as PRC, Dubai and Malaysia."
While the heat is on for Mary Chia's IPO, experts said investors are not biting on to Catalist listings yet. So far this year, five firms have joined the Catalist board. Other than Mary Chia, the others are Teho International, Japan Food Holdings, Westminster Travel and Heatec Jietong.
Gabriel Yap, senior dealing director, DMG & Partners Securities, said: "Most of the share prices are actually coming in below the IPO prices. If you look under volumes, you can see that essentially there is a lack of interest from the investment public on shares that have been traded on the Catalist board so far. On some days, some of these stocks actually traded less than 10 lots."
Analysts said it may take some time for investors to warm up to Catalist companies. They said the investment interest is still likely to focus on counters on the more liquid mainboard.
However, they added that when the mainboard picks up on improved market sentiment, there may be a spillover effect on Catalist stocks.