LC Corp. was losing even 9 percent yesterday. This is another hit to investors who had been very optimistic against the IPO of a company controlled by well-known investor Leszek Czarnecki. Oversubscription amounted to 98 percent. The issue price amounted to PLN 6.5 (EUR 1.7) but on the first day of trading it ended at slightly above PLN 6. Yesterday, it cost PLN 5.44.
“The attitude of stock investors towards homebuilders is deteriorating. Investors turn away from these companies. Their logics are simple: when flat prices were growing, so was the stock. When flat prices stopped growing, the stock prices stopped as well”, Krzysztof Radojewski, DI BRE Bank analyst commented.
Moreover, the choice of homebuilders is bigger.
(PLN 1 = EUR 0.266)