Altus Property Ventures Inc. (APVI), a unit of the Gokongwei’s JG Summit Holdings Inc., which listed its shares by way of introduction at the Philippine Stock Exchange (PSE) on Friday, hit ceiling price on its third trading day today, June 30.
APVI stock price closed at P41.60, up by P13.85 from previous P27.75 or up by 49.91%.
On its trading debut last Friday, APVI stock price opened at P40.00, soared up to 2000+% to P240.00 but eventually plunged to as low as P17.00. It closed at P18.50 per share on its market debut.
APVI had an initial listing price of P10.10.
A listing by way of introduction is taking a company public without selling shares to the public.
Source: Peso Economics
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