KUALA LUMPUR: Mobile virtual network operator XOX Group Bhd saw its shares slip further in early trade, falling to a low of 67 sen when it made its debut on the ACE Market on Friday, June 10.
At 9.11am, it was trading at 67 sen, which was 13 sen below its offer price of 80 sen.
There were 4.71 million shares done at prices ranging from 67 sen to 73 sen. It had opened at'' 73 sen.
The company reported that it made a net loss of RM1.66 million in the quarter ended March 31.
It said on Thursday, June 9 the loss after taxation was mainly due to the selling and distribution expenses which were necessary in creating brand awareness for XOX's services.
It recorded revenue of RM12.68 million on the back of about 391,000 subscribers.
'During the current quarter XOX has also managed to record an average revenue from sales of recharge of approximately RM30 per user per month,' it said.
At 9.11am, it was trading at 67 sen, which was 13 sen below its offer price of 80 sen.
There were 4.71 million shares done at prices ranging from 67 sen to 73 sen. It had opened at'' 73 sen.
The company reported that it made a net loss of RM1.66 million in the quarter ended March 31.
It said on Thursday, June 9 the loss after taxation was mainly due to the selling and distribution expenses which were necessary in creating brand awareness for XOX's services.
It recorded revenue of RM12.68 million on the back of about 391,000 subscribers.
'During the current quarter XOX has also managed to record an average revenue from sales of recharge of approximately RM30 per user per month,' it said.
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