KUALA LUMPUR: Century Software Holdings Bhd opened at 95.5 sen, or 2.5 sen above its offer price of 93 sen when it made its debut on the Main Market of Bursa Malaysia on Monday, Jan 31.
At 9.19am, it was up 4.5 sen to 97.5 sen with 10.54 million shares done.
The FBM KLCI was down 12.21 points to 1,509.68. Turnover was 93.25 million shares valued at RM91.20 million. There were 41 gainers, 289 losers and 105 stocks unchanged.
Century Software issued 23 million new shares of 10 sen each at an offer price of 93 sen each. Kenanga Research has a target price of RM1.43.
Kenanga Investment Bank Research said it was convinced that the group is set for greater growth.
'We have upgraded our FY10, FY11 and FY12 earnings estimates to RM10.9 million, RM19.1 million and RM25.3 million, respectively. We value Century Software at 12.9 times PER to its FY11 EPS of 11.1 sen, hence we pegged our 12-month target price at RM1.43,' it said.
At 9.19am, it was up 4.5 sen to 97.5 sen with 10.54 million shares done.
The FBM KLCI was down 12.21 points to 1,509.68. Turnover was 93.25 million shares valued at RM91.20 million. There were 41 gainers, 289 losers and 105 stocks unchanged.
Century Software issued 23 million new shares of 10 sen each at an offer price of 93 sen each. Kenanga Research has a target price of RM1.43.
Kenanga Investment Bank Research said it was convinced that the group is set for greater growth.
'We have upgraded our FY10, FY11 and FY12 earnings estimates to RM10.9 million, RM19.1 million and RM25.3 million, respectively. We value Century Software at 12.9 times PER to its FY11 EPS of 11.1 sen, hence we pegged our 12-month target price at RM1.43,' it said.
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