Third time unlucky in IPO application.
To be fair, the chances were pretty slim to begin with, from around 3% to 16% based on the number of lots you applied.
From the allocation balloting, we can also see that the management is appreciating long term shareholders more than those who were bidding just to sell it off in the near term.
The stock made its debut performance today and it closes at $0.42 on its first day of trading. That’s a 35% increase in the stock price and a strong debut performance from the Starburst. At $0.42, I think the upside could be somewhat limited as I projected around $0.36 to $0.40 as the fair value based on their historical earnings.