Shares of Astro Malaysia Holdings Bhd, Malaysia’s largest pay-TV firm, dropped as much as 9 percent on its second day of trading today as investors fretted over the company’s near-term prospects.

“People might be afraid of the company’s short-term prospects in view of high capital expenditure, amortisation and depreciation costs it is expected to incur in the near term,” said an analyst with local bank-backed research house in Kuala Lumpur.

The higher costs include a fresh bid to broadcast English Premier League matches for the next four years and the launch of a new satellite some time in 2015, added the analyst, who declined to be named as he was not authorised to speak to the press.

Shares of Astro ended the day 7.67 percent lower at RM2.77, underperforming the broader index’s 0.26 percent drop.

Astro shares debuted on Friday and closed flat amid concerns that its valuations may be too high.

- Reuters