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E-tailer Kogan shares fall in volatile market debut

Australian e-tailer has disappointing share market start
By: Ben Gourlay | Business, Financial & Legal News | Posted: Jul 7, 2016 6:24 am

Australian online retailer Kogan has floated on the Australian share market today and quickly slumped in a volatile debut.

 

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According to ABC, Kogan shares dropped well below their initial offer price of $1.80, down nearly 12% to a low of $1.495 a few hours after trading begun. The cash injection from the float will be used to invest in new products and product lines. The company forecasts sales of $241 million this year and earnings of $6.9 million.

NEWS SOURCES:Abc.net.au

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