Those expecting to make a huge profit from the initial public offering of D&L Industries (stock code: DNL) might have to wait longer, after the DNL stock fizzled in the local stock market weeks after its IPO.
The last IPO of the year failed to generate enough attention and excitement from stock investors, even during the stock’s first trading days when irrational exuberance could kick in.
On December 12, the stock’s first trading day, it closed at P4.36, up a measly 1.4% from its offer price. It reached an intra-day high of P4.51.
As of December 26, exactly two weeks from its IPO, DNL ended trading at P4.41 — representing a mere 2.6% increase from its P4.30 offer price and a meager 2-week return of 1.2% if you bought the stock during its first trading day.
D&L Industries (DNL) is owned by the Lao family and is involved in the manufacturing and distribution of colorants, chemicals and additives used by companies in the plastics, paint, and ink industries.
More information about the company can be read here: D&L IPO: Last initial public offering of 2012
DNL is one of several companies that went public in 2012.
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