Is the jury still out on Dischem's JSE listing?

Although the fanfare generated around the listing of pharmaceutical retailer Dischem on the JSE today may have attracted a lot interest leading up to it's debut, there are a number of analysts who remain skeptical of its ability to deliver quality earnings to stockholders.

Besides this there has also been quite some displeasure from retail investors after the company decided to allocate its full placement with institutional investors rather than the former sparking fury over the company's failure to extend its reach closer to it's customers.

Social media has weighed in on the PR disaster with this particular poll attempting to gauge the true feeling of retail investors.  

The way @Dischem chose to exclude retail investors from the placement ahead of its listing on the #JSE makes me:

— Jack Adze (@4shizngizzles) November 18, 2016

From a trading perspective, the placement of the entire issue in the hands of institutional investors makes the prospects of liquidity bleak to say the least. If retail investors had a portion of the placement it would've created enough liquidity to drive price movements that would entice the interest of traders who'd be able to shape the price pathway of the company more clearly.