Tigerair shares drop 1-day after listing on Taiwan Innovation Board

虎航在台灣開盤上市 1 天後股價下跌

Post-COVID recovery and strong monthly revenue not enough to bolster investor confidence


TAIPEI (Taiwan News) —Tigerair Taiwan (6757) celebrated its listing on the Taiwan Innovation Board (TIB) on Tuesday (Aug. 15) on the strength of strong monthly revenues during the summer travel season.

Tigerair Taiwan's IPO price was NT$42.6 (US$1.34), though early on the first full day of trading the share rose to the daily limit of NT$46.85. It was the highest traded share on TIB and also the leader in market capitalization among aviation stocks on the exchange, per UDN.

Investors were enthusiastic about the Tigerair Taiwan listing as the company had been profitable for two consecutive quarters with an EPS of NT$1.87. The company has also expanded its service to 27 popular international destinations in Japan, South Korea, Macau, among others.

However, on Wednesday (Aug. 16), the shares fell 7%, hitting the daily limit at NT$40.05, which is below the underwriting price. Intraday trading volume exceeded 1,000 lots of shares, topping all other TIB shares.

Tigerair Taiwan is the first airline to be listed on TIB and has set a number of records, but is still experiencing trouble winning over investors. Due to the sharp dip in share prices, parent company China Airlines also saw its share price dip.