CMC Crashes 13% after the Opening Bell on the First Trading Day!

The new property stocks to enter the market today, CMC, sinks 13% below its IPO.

It is the first trading day of Chaoprayamahanakorn Public Company Limited (CMC) that previously offer IPO for investors at ฿3.00/share. However, after the opening bell, CMC declines to ฿2.62/share or 12.67% with 81.39 million baht in value.

CMC operates 3 main businesses as follows:

  1. Residential property development business includes condominium, townhouse, townhome and single detached house, focused mainly on condominium.
  2. Business of property development for lease.
  3. Construction contractor business and furniture and wall manufacturing business.