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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