What an introduction! The stock opened @ 16.78 and closed @ 15.22 losing 9.40%. Price range is between 14.92 to 16.80. Total value is 3.6B, which I speculate that 1B of it was used to stabilize the price @ 16.78. UBS AG Singapore Branch is tasked to support the price of the stock within 30 days beginning today, but its buying capability is limited only up to 15% of total shares. The task of supporting price is done in both ways, buying and selling shares, which UBS did today. It bought closed to 87 million shares and sold 22 million shares. If the total shares is approximately around 1.7 B, 15% of it will be 255 M. And then deduct the total number of sold shared from the total number of bought shares, you will come up with 65 million shares used to support the price. So out 255 million, UBS still has 190 million shares to buy just to stabilize the price. The Prospectus also mentioned the stabilizing agent has been given the discretion to support or to discontinue supporting the price. Just thinking, even with a stabilizing agent with such huge buying power, the stock still declines significantly, what do you think will happen if the stabilizing agent after 30 days discontinue its support?
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