E-tailer Kogan shares fall in volatile market debut

Australian e-tailer has disappointing share market start.

@TweakTown
Published Thu, Jul 7 2016 1:24 AM CDT   |   Updated Tue, Nov 3 2020 11:59 AM CST

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

E-tailer Kogan shares fall in volatile market debut | TweakTown.com

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 SOURCE:abc.net.au

Ben joined the TweakTown team in 2008 and has since reviewed 100s of movies. Ben is based in Australia and has been writing entertainment based news and reviews since 2002 and for TweakTown since 2007. A student of film, Ben brings a wide understanding of the medium to the latest happenings in entertainment circles and the latest blockbuster theatrical reviews.

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