It is very normal on first day of listing for stock price to under pressure due to appearance dual alternative new listing warrant and RCPS. Stock price will rebound and recover gradually after today.
The share price kept falling and drifting downward after announcement of the RI in March 2018. The PH surprised win in the GE14 exacerbated the fall as most people misconstrued that tolls would be abolished.
Now that 1) The RI is already over. The issue price was set at rudiculously low price. 2) Tolls are not going to be abolished. PH Manifesto never promised to abolish Tolls.
Government could not simply take over highway concessions without fair compensation, example, LITRAK. It must follow the rule of law. There are 4 companies competing to take over Plus indicating strong market interests in highway concession assets. WCE which runs parallel to NSE in its Central Part is as good if not better.
Taking together, price has only one direction to move as indicated by the very strong debut of wce-wf, which closed with a 65 % premium yesterday.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
monetary
4,447 posts
Posted by monetary > 2019-11-25 17:23 | Report Abuse
toll asset with long concession period. high markets expectation. high premium. possible?