Who are those selling Astro shares?

This is my opinion. Every major IPO, the amount allocated to retail IPO gets progressively smaller and smaller. The IPO process is distorted It should be named IPRO=Initial Public Restricted Offer.

Those that have the money are given 'preference' to subscribe for institutional offer, paying only a 15% margin to subscribe, and not the full amount. If they apply for RM1mil worth, they only need to put up 15%. In return the bank will take 2%. So in this case if allocated, the cost to these special priveledges is RM3.06 for the Astro shares. They are in for the quick buck, so when the listing comes and closes at RM3 the first day for Astro, it's every dog for themseves, see who can get out the fastest. This is the cause of the selling, brought about by the distorted IPO process.

In my honest opinion....