KUALA LUMPUR: The indicative initial public offer (IPO) price of Petronas Chemicals Group Bhd has been set between RM5.05 and RM5.20, analysts who attended a briefing on Tuesday, Oct 12 told Reuters.
The RM5.05 per share is the price retail investors would have to pay while institutions would have to pay RM5.20 per share. The indicative price translates to a valuation of between 15 and 16 times price to forward earnings, the analysts said.
Preliminary analyst models also attributed a 30 sen earnings per share estimate to the company for 2011 and 0.32 sen for 2012. The company reported a net profit of RM814 million for the four months ended July 2010. The IPO, comprising 2.48 billion shares according to an IFR report, would raise RM12.9 billion at the high end of the price range. ' Reuters
The RM5.05 per share is the price retail investors would have to pay while institutions would have to pay RM5.20 per share. The indicative price translates to a valuation of between 15 and 16 times price to forward earnings, the analysts said.
Preliminary analyst models also attributed a 30 sen earnings per share estimate to the company for 2011 and 0.32 sen for 2012. The company reported a net profit of RM814 million for the four months ended July 2010. The IPO, comprising 2.48 billion shares according to an IFR report, would raise RM12.9 billion at the high end of the price range. ' Reuters
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