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The company, which launched on the Johannesburg Stock Exchange (JSE) on Monday (July 11th) after its spin-off from paper manufacturer Mondi, saw its stock fall below 14 rand after opening at 16 rand.
Speaking in Johannesburg, where Mpact is based, chief executive Bruce Strong explained the company's decision to float on the stock market.
"The listing seeks to help the strategic focus and the company's growth on the packaging side," he was quoted by Bloomberg as saying.
Mr Strong added the firm is looking for new opportunities in greenfield operations and acquisitions, although none have been identified as yet.
Forbes Coal could represent another promising stock market tip, after the company announced plans to begin secondary trading on the JSE from July 28th.
President and chief executive Stephan Theron said the move represents a "natural step" for the coal producer.
Posted by Chris Weaver
