Sri Trang Agro-Industry (STA.TH) tumbles 10.9% to THB32.75 after the rubber processor set the final offering price for its dual listing on the Singapore Exchange at $1.20/share, or THB29/share, below the maximum offer price of $1.60, amid some investor concerns about Asian markets’ relative value in recent weeks, a person familiar with the transaction tells Dow Jones.

 

 

“There’s been a little bit of a pull in developed markets of late and there’s been a little bit of concern about inflation in Asia,” the person says. 

 

Sri Trang expects to list on the Singapore bourse on Jan. 31, a person familiar with the matter says. 

 

The offer price news comes after a bizarre mix-up in the company’s news releases earlier Wednesday; a pre-market-open statement said it had canceled the offering and Singapore listing plans because of unfavorable market conditions, but less than an hour later, the company issued another statement saying to disregard the earlier announcement and that it was in the process of determining the final offering price.