THE biggest initial public offering (IPO) of 2022 has lost nearly 16% of its market value in just five days, plummeting to a fresh record-low of RM1.06 yesterday.

The shareholders of Farm Fresh Bhd, including Khazanah Nasional that owns a 11.8% stake, would have been shaken by the fact that the stock has tumbled to below its IPO price of RM1.35.