What do MoneyHero Group, Grab and Ohmyhome have in common?
- They are all companies with their HQs in Singapore and at present have the bulk of their operations here.
- All 3 stocks have crashed significantly from their highs (at the time of writing) and haven’t given investors at the world stage a very optimistic impression about such Singaporean-based businesses.
Of the 3 companies, MoneyHero Group is now the one in focus having listed recently on Friday the 13th (coincidence?).
Despite the resurgence of IPOs this quarter, their listing seems to be off to a rather ‘villainous’ start given that a third of their investors redeemed their shares before the merger.
In addition to this, the stock sold off by 50% on its opening day with little to no hope of a rebound!
(Imagine flying your management team and investors over to America to ring the opening bell just to see your company stock sliced into half on its big night.)...
