Sime Darby Property, Plantation shares fall further after dismal debut

PETALING JAYA: The shares of Sime Darby Plantation Bhd and Sime Darby Property Bhd fell further this morning after their failure to impress during their debut on Bursa Malaysia last Thursday.
At 10.50am, Sime Darby Plantation’s share price fell 13 sen or 2.60% to RM4.88 with a total of 3.58 million shares traded while Sime Darby Property fell 5 sen or 4.17% to RM1.15 with a total of 5.90 million shares traded.
Sime Darby Plantation opened at RM5.60 last Thursday, a 1 sen premium against its issue price of RM5.59. However, it closed lower at RM5.01 that day.
Meanwhile, Sime Darby Property opened at RM1.30, 20 sen lower against its reference price of RM1.50. It fell further to close at RM1.20 that day.
The listing ceremonies were part of the Sime Darby Group’s pure-play strategy, which also saw Sime Darby Bhd relisted as a motors and industry company.
Sime Darby’s share price rose 13 sen or 5.96% this morning with a total of 9.84 million shares traded. The stock jumped 27% to close at RM2.35 last Thursday.