Friday, 6 December 2013

Kanger International Berhad

At IPO price of 25sen/share, Kanger's market cap upon listing will be RM107.5m


Kanger recorded PATAMI of RM6.369m and RM5.034m (annualised) in FY12 and FY13 respectively.

Based on the offer price of 25sen/share and market cap of RM107.5m, it will be traded at trailing PE of 16.9x (FY12) and 21.4x, whereas the china stocks listed in Bursa are traded at an average trailing PE of 2.2x (souce: Hong Leong trading platform)


Company
IPO Price (RM)
Closing price (RM)
6 Dec 13
IPO date
Xingquan International Sports Holdings Limited
1.71
0.86
Jul 09
XiDeLang Holdings Limited
0.58
0.35
Nov 09
Multi Sports Holdings Limited
0.85
0.19
Aug 09
Maxwell International Holdings Bhd
0.54
0.285
Dec 10
K-Star Sports Limited
2.15
0.12
May 10
HB Global Limited (Sozo)
0.80
0.17
Dec 10
China Stationery Limited
0.95
0.195
Feb 12
China Ouhua Winery Holdings Limited
0.60
0.075
Nov 10
China Automobile Parts Holdings Limited
0.68
0.385
Jan 13
Kanger International Berhad
0.25
?
Dec 13

Based on closing prices on 6 Dec 2013, all the China companies listed in Bursa are traded below their respective IPO price.

Will Kanger command higher PE than its countrymates and exceptionally stay above its IPO price?

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