KLSE (MYR): WPRTS (5246)
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Last Price
4.25
Today's Change
-0.01 (0.23%)
Day's Change
4.20 - 4.28
Trading Volume
327,200
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azlan88
509 posts
Posted by azlan88 > 2014-02-15 21:46 | Report Abuse
I have grown impatient with Wprts. All is not well since the listing.
Overpriced IPO price of RM2.50 instead of below RM 2.00. Net asset/share is only worth RM0.47. Declared 5.22 cent dividend, while the owners enjoyed 35 cents of dividend before IPO. That is 7 Quarters worth of dividends!
Plus the owner sold their own shares and netted more almost 1 billion. Institutional investors like PNB and EPF had first hand info regarding the IPO and they don't subscribed. We, as the retail investors does not have that privilege. MITI investors even worse, they even don't have chance to see the prospectus before making payment for shares offered.
Some may see Westport as dividend-play stocks. But the way they handle the P3 alliance news after it came out 1 day after listing is horrible.