Stock Commentary

CREC changed its IPO date for better feng shui

CREC changed its IPO date for better feng shui

According to a report by Miguel R. Camus of InsiderPH [link], Citicore Renewable Energy Corp. [CREC 3.88 pre-IPO] CEO Oliver Tan said that CREC moved its IPO back by a week to June 7 after consulting with a feng shui expert. Mr. Tan said that June 7 is a more “auspicious” date.

MB bottom-line: I’m not a superstitious person but I understand why these considerations can creep in where the difference between success and failure can so often be attributed to random chance. We’ve seen companies in the past set their maximum IPO price at a number that is thought to carry better “luck”, but it’s hard to look at the history of IPO results and see much good luck in all that red. Good reason? Bad reason? It doesn’t make that much difference to me as an investor, and it likely won’t make any difference to anyone a year or two from now when CREC is listed and the IPO is just a distant memory. Still, thought it was interesting to pass this along since I was lightly speculating on the reason for the date change yesterday.



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