Saturday, 22 January 2011

Harry's Holdings Ltd

Harry's Holdings Ltd is placing out 24m new shares at $0.22 for a listing on Catalist. It managed to grow from a single bar in Boat Quay in 1992 to a leading F&B operator today.


Revenue grew from $27m in FY2007 to $37m in FY2009 and net profit is around $2m for that 2 years with a dip in FY2008. The offer will end on 24 Jan at 12pm.


The Company is listing at a PER of 11.4x assuming the service agreement is in place and based on post IPO number of shares. Market cap is $20.9m. Basically at $21m, it is a ultra small cap and you 'cant' apply for it. Don't see much prospects unless it can venture out of Singapore or create some ultra profitable F&B outlets. 



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