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