Asia Group's capitalization evaporated more than 1,700 billion in the first 3 sessions of listing

After only 3 trading sessions on UPCoM, AIG shares lost 16% of their value, equivalent to a capitalization loss of more than 1,700 billion VND.

After only 3 trading sessions on UPCoM, AIG shares lost 16% of their value, equivalent to a capitalization loss of more than 1,700 billion VND.

On November 11, AIG shares of Asia Materials Corporation (Asia Group) began trading on the stock exchange with the first trading session on UPCoM.

The number of securities registered for trading is more than 170.6 million shares. The reference price on the first trading day is 63,000 VND/share.

When it first went public, AIG debuted by plummeting for three consecutive sessions with a fairly high loss rate. In the first trading session (November 11), AIG fell 8.1% and continued to lose more than 3% each session in the next two sessions.

At the end of the session on November 13, AIG closed at VND52,900/share, equivalent to a decrease of 16% compared to the reference price on the first day. On the first day of listing, AIG even plummeted to VND45,000/share, losing up to 28% of its value.

Liquidity in this stock is also quite limited. The volume of shares traded on the floor was only positive in the first session and decreased sharply in the following 2 sessions.

AIG stock performance in the first 3 listing sessions from November 11 to November 13, 2024

Before going public, AIG announced some pretty good numbers. With an initial capitalization of nearly VND10,800 billion when it was listed, AIG was also a rare large-value enterprise to go public during a period when there were few “new products” on the market recently. However, the transactions in the first sessions showed that investors were not very “interested” in this food ingredients industry stock.

AIG's financial report shows that in the first 9 months of 2024, the company achieved VND 8,890 billion in net revenue, an increase of nearly 3%, and after-tax profit reached VND 634 billion, an increase of more than 9% over the same period last year.

Compared to the plan of VND12,949 billion in net revenue and VND889 billion in profit after tax, AIG has now achieved more than 71% of the annual profit plan.

After 4 capital increases, AIG currently has a charter capital of more than 1,796 billion VND with 7 factories producing raw materials such as cream powder, milk powder, coconut processing, agricultural products and food, starch, essential oils, fruit juice, frozen vegetables and fruits and algae.

Source: https://baodautu.vn/von-hoa-asia-group-boc-hoi-hon-1700-ty-trong-3-phien-dau-tien-chao-san-d229973.html