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well, it was listed at 23 cents, closed on its first day at 34 cents, currently trading at 5.5 cents. Wild roller coaster ride. All the hype during IPO has all disappeared.
People are always easily sold, i bet the many uncles and aunties who went to IPO mary chia would probably have made statements like, "Women's money is most easily earned cos they like to stay pretty" but they fail to take into account that running a business incurs expenses in the form of rental, staff salary, faces competition, etc. i still remember they got vicki zhao as an ambassador, i wonder how much mary chia spends on advertising with no decent payback
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perhaps if they advertise more agressively, the percentage of A&P to revenue can drop further and can bring in more revenue, then there's a chance of rebound in share price
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Update.
Mary Chia Holdings Limited refer to the announcement dated 8 June 2016 regarding the breach of Section 5(1) of the Employment of Foreign Manpower Act (Chapter 91A) by Spa Menu Pte. Ltd. for employing a foreign employee for whom the work pass had yet to be issued by the Ministry of Manpower.
Further to the Announcement, the Board wishes to announce that the State Courts of Singapore has, on 16 June 2016, imposed a fine of S$5,000 on Spa Menu Pte. Ltd. for the Breach. With the payment of the fine, the case has been concluded.
As at the date of this announcement, Spa Menu Pte. Ltd. continues to operate its business as usual.
<not vested>
Specuvestor: Asset - Business - Structure.