The IPO champion of the year is Healthway Medical!
Healthway Medical is the worst performer in this year IPO market.
No surprise as Healthway Medical has priced their new shares at more then 27 times price earning ratio a share in IPO.
Market darling stock with proven track record like Raffles Education is trading at about 22 times PER. Do not expect any new the challenge to this exorbitant pricing in rest of year 2008.
Healthway Medical debut at 36 cents and promptly trading under water and now trading at 12.5 cents only.
For the vendor, there is not much an issue as most of them get the share at merely 0.73 cents per share. Not even 1 cent, mind you!
Watch out for the expiry date of the lock in period.
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