Thai IPO's haywire. Another example.

Master Style Public Company recently IPO's at 46 Baht.  You had to decide between Jan. 17-19th if you wanted any. Yuanta was the broker.  Yet, the selling memorandum was not posted on the SET until Jan. 24th.  Here is the link:  https://weblink.set.or.th/dat/news/202301/23007596 (link is external) Hence a rational investor was in the dark about what this company was all about, or at least its finances.  It opened last week trading in the low 60's and currently trading at 74, or at a stratospheric p/e of 55. Itself a bit mind a boggling valuation more like speculative excess.

The company describes itself as a Plastic surgery hospital under the name "Masterpiece Hospital" and has great financials, but from what I can tell one did not know about these -until after one had to subscribe.  Why are Thai IPO's so lame here on offering prospectuses, if published at all, before one must decide to invest and why such massive speculative excess on these, so often on the first trading days listed -only then too often to be forgotten and dwindle in value in weeks or months thereafter?  Not least then no follow up on their price performance say 3,6,12 months later. This practice has been going for too long and allows investment-banks to regularly overpriced IPO' here?  With then most investors having little if any information on hand, before deciding to subscribe.  Dead against the SET advise which regularly states study before you invest.

Paul A. Renaud.
www.thaistocks.com