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What ails ComfortDelGro as Aussie IPO plan is called off?
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ComfortDelGro Corp has called off plans to float its Australian unit, citing unfavourable conditions.
ST PHOTO: KUA CHEE SIONG
SINGAPORE - What is happening to ComfortDelGro's shares? Since the group announced in May that it was planning to free up cash from its Australian unit - later revealed as an initial public offering (IPO) - its stock price has continued to trend downwards.
The counter took another hit on Thursday (Nov 11), after the home-grown transport group said on Wednesday that it was calling off its IPO plans Down Under. Closing five cents lower at $1.56, the stock is 14 per cent off its year's high in April.
