Til Today, MultiSports share price had dropped 32cent since her IPO listing in KLCI which is equivalent to almost 40%. To add salt to her wound, Quek family start disposing her share.
The Quek family, a major shareholder of Multi Sports Holdings Ltd, has sold off a chunk of its equity stake in the Chinese shoe sole-maker. According to fillings to Bursa Malaysia last Friday, the Quek family via its Cayman Islands-incorporated vehicle GuoLine Group Management Co Ltd, had disposed of a 3.6% stake comprising 12.97m shares in Multi Sports on Aug 24. The Quek family had held about 15% of the company before selling down the shares. It now owns about 11.4% or 41.03m shares in Multi Sports. (Financial Daily)
With the big boss disposing her share, I believe many retail investors will follow suit. It seems that investors are still cautious about foreign IPO listing in Malaysia. The question remains, why they choose Malaysia over its own home country China for listing? Is it as mentioned our economy is more stable.
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