Poor IPO is more to do with the failure to deliver on expectations set during the pre IPO period, that's why a lot of CN holders will have sold out.
So yes the business has underperformed but not based on the IPO prospectus.
As far as I'm concerned that's in the past for historical reasons, clean sheet with new CEO & the IPO funds.
HMI however needs a very strong Q1 FY22 for me to continue holding but on the fundamentals a strong buy at current levels.
R.I.P. Hermii, page-70
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