Perennial China Retail Trust down 12.86% on SGX debut

Perennial China Retail Trust, which owns shopping mall assets in China, closed at 61 cents on its debut in SGX yesterday – 12.86% below its IPO price.

In just a day, the stock lost $101 million in value (the initial investors’ money).

I’ve already hinted last week that investors should never buy IPO and DREAM to become rich overnight.

This year, three IPOs in Singapore prior to Perennial’s listing, namely, Hutchison Port Holdings Trust, Mapletree Commercial Trust and Chew’s Group have all dipped below their offer prices.

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Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
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