XOX Bhd’s IPO recorded the biggest slides of IPO on debut for year 2011 as of today, declining 35% from listing price at 73 sen to 52 sen at the end of the first day.

For record, XOX Bhd’s IPO is the 16th IPO in 2011 and the 7th IPO listing on ACE Market. On 8 June 2011, UOA Development Berhad was the first IPO with poor performance on debut, however the drop percentage was very minimal as low as 0.38%. Unlike other IPOs, XOX Bhd falls up to 35% on debut.

According to news, this probably due to concern from investors with the company’s business model and aggressive competition from other mobile telcommunication service providers.

p/s: tak semestinya sumer IPO bagus untuk dibeli…kena kaji dan selidik serba sedikit info dlm prospektus…target XOX utk dapat 300,000 new subscribers per quarter dikatakan lebih kepada angan2…fakta menunjukkan purata new subscribers per quarter bagi mobile operator lain adalah 248,000 bagi tahun 2010.

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