Sep 21 2009, 12:02 PM
QUOTE(zenquix @ Sep 21 2009, 12:47 AM)
Not sure if this was shared
Source: http://www.btimes.com.my/Current_News/BTIM...icle/index_html
My thoughts
1) Listing only covers Malaysia Maxis. What is the potential growth like? Pure dividend play?
2) Maxis Communications Berhad will use both proceeds from the relist as well as dividends to finance overseas ventures. @75% dividend return, would this in turn cap the potential growth of the Malaysian business?
3) Reduction in 2009 financials and reduction in market share hints on better performance by the competitors in the Malaysian Market?
4) @ 2.25 bil shares (only 8% retail), and estimated IPO listing of RM7bil, this would mean that the potential IPO price will be ~RM3.11 per share.
5) Assuming that FY2009 & FY2010 gross profit is zero growth @ RM2.4 bil(considering 2009 is already 9.4%) that would mean a dividend pool of RM540mil for this 2.25 bil shares. Thus each share may earn ~24 sen per share
6) This would put it to a potential dividend yield @ est IPO price of 7.7%.
I think should be Rm1.50 per IPO.Source: http://www.btimes.com.my/Current_News/BTIM...icle/index_html
My thoughts
1) Listing only covers Malaysia Maxis. What is the potential growth like? Pure dividend play?
2) Maxis Communications Berhad will use both proceeds from the relist as well as dividends to finance overseas ventures. @75% dividend return, would this in turn cap the potential growth of the Malaysian business?
3) Reduction in 2009 financials and reduction in market share hints on better performance by the competitors in the Malaysian Market?
4) @ 2.25 bil shares (only 8% retail), and estimated IPO listing of RM7bil, this would mean that the potential IPO price will be ~RM3.11 per share.
5) Assuming that FY2009 & FY2010 gross profit is zero growth @ RM2.4 bil(considering 2009 is already 9.4%) that would mean a dividend pool of RM540mil for this 2.25 bil shares. Thus each share may earn ~24 sen per share
6) This would put it to a potential dividend yield @ est IPO price of 7.7%.
2.25 bil (30% for public) and the rest for internal acquisition.
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