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A similiar strong performance of its Australian competitor Dyno Nobel last week could be the reason for this explosive debut.
I'm just making a play on the word "explosive" as it's an explosives maker.
Based on Orica PE of 185, Fabchem is just a "punter's" stock. If it's that good, why must the parent list it @ 32cts. Many out there will lose their "shirts" and "pants" soon!
but all IPO usually have explosive starts. but then after one or two weeks, the price will fall.
Fabchem makes an explosive debut, rising to 63c from IPO price of 32c.