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Jessicalim
2021-11-11

Buy on dip?!

Hot stock: ComfortDelGro down as much as 3.7% after scrapping subsidiary IPO plans

SHARES of mainboard-listed ComfortDelGro tumbled as much as 3.7 per cent shortly after the market op

Hot stock: ComfortDelGro down as much as 3.7% after scrapping subsidiary IPO plans

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By 9.33 am, ComfortDelGro's shares were trading 2.5 per cent or S$0.04 lower at S$1.57, with 8 million shares changing hands.</p>\n<p>ComfortDelGro on Wednesday (Nov 10) said it is no longer pursuing an IPO for its wholly-owned Australian subsidiary ComfortDelGro Corporation Australia on the Australian Stock Exchange.</p>\n<p>The group noted that IPO conditions in Australia have become more challenging since August, when the group announced that it was considering listing ComfortDelGro Australia. 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It added that \"other strategic options\" have emerged but did not give details.\nComfortDelGro Australia operates a total fleet of over 4,400 vehicles across Australia, making it one of the largest privately-owned bus operators there.\nAnalysts had been positive on the IPO as they saw the potential for a special dividend for shareholders, as well as a re-rating of ComfortDelGro's shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":830,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":10,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}