QUOTE(king_majesty @ Feb 25 2016, 03:02 AM)
Studying the research report. Some thoughts.
Half of the IPO proceeds goes to owners pocket, Remaining half goes to company & out of 41m, 4m goes to M&A securities! Meaning to say, existing shareholder is the biggest beneficiaries vs the company
Doesn't deserve the 20% premium in valuation as they are not market leader. At most peer average.
Thin margin? Credit term policy (bad debt can sink company into loses)? Depreciation policy (plants and new equipment purchase)? Single client dependency?
Dividend policy?
Advised by M&A, potential goreng candidate?
not right! please dont give wrong info here bro.
41m from Public Issue only, OFS portion entirely goes to the selling shareholder(s).
4m professional fees of which, 2 mil to adviser, solicitors, reporting accountant, IMR, issuing house and share registrar.
500k goes to bursa and sc. 1.2m goes to underwriter and placement agent. 268k contingencies.
Dividend policy – Upon listing, our board intends to adopt a stable and sustainable dividend policy to allow our shareholders to participate in the profits of our group while maintaining an optimal capital structure and ensuring sufficient funds are available for our future growth.
Means no clear div policy at the moment.
Never look at the valuation, no time now.
Which research report you read? Sue them for misleading info. Or you read wrongly.