The decrease in today's SP doesn't make it a disappointing / bad company. It is a profitable business in Malaysia, that has existing customers, nearly $1b in loan book, and has a unique licence that only one other company has.
And they did invest in BNPL - the announcement states that they can target the clients/customers of Destinasi and actively shop the BNPL products to them. So it's a $40mil investment in their BNPL company, and removing cash flow risk.
If buying a small BNPL / digital company that was losing money was what you were after, then I daresay the market's would have punished IOU not only today, but over the course of the week.
During the TH, APT and SZL etc have been down circa 5%, and given the SP fluctuations, this could easily have been 10% for IOU. Once the market settles, and realises the upcoming anns still to come, I think we will regain today's high very quickly.
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Open | High | Low | Value | Volume |
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2 | 200000 | 0.008 |
6 | 3670000 | 0.007 |
3 | 1550000 | 0.006 |
2 | 1000000 | 0.005 |
1 | 178888 | 0.004 |
Price($) | Vol. | No. |
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0.009 | 1127760 | 9 |
0.010 | 2447272 | 5 |
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