Recap to the previous post, UMW Oil & Gas Corporation Berhad enter the market on 1 November 2013. As mentioned before, I put recommendation for long-term, buy-hold.
Now let's see OMWOG 1st day listing performance;
HIGHEST: RM 3.180
CLOSING: RM 3.100
# RM200-300 profit margin if u grab it from IPO since it offer price during IPO RM 2.80
1st Week Performance (1 Nov - 8 Nov 2013);
As at 5 p.m 8 November 2013, UMWOG closed at RM 3.120
Highest achieved during 1st week at RM 3.220 (4 Nov)
However, highest closed at RM 3.180 on Monday, 4 November markets
My expectation, in one year ahead period, OMWOG already double it price per unit. And for current, analyst predict that since it stable and strong above RM 3.00, there was a potential for it keep moving.
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