Sateri Holdings Ltd, controlled by tycoon Sukanto Tanoto, is a big disappointment for stock market investors. Sateri got HK$3.3 billion from initial public offering (IPO) on the stock exchange of Hong Kong in late 2010 at HK$6.6. Last Friday, the stock closed at HK$1.52. Sateri’s market value collapsed more than 50% in less than one year after the IPO and continued to fall in the past three years.
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