PETALING JAYA: Some industry observers have raised concern over the reference price of IGB Commercial Real Estate Investment Trust REIT or IGBCR, which they said was the reason that caused the shares to hit limit down on the day it made its debut on the stock exchange.
Industry observers who spoke to StarBiz claimed the reference price, which was set at RM1 per share, was “higher than it should have been.”
One dealer said the effective cost of one IGBCR share was 40 sen to shareholders of IGB Bhd and 71 sen to institutional funds.
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