Skip to main content

IPO Chilli Ratings

IPO Chilli Ratings
Click to understand how it works

Featured

Singapore Institute of Advanced Medicine Holdings Ltd

Singapore Institute of Advanced Medicine Holdings Ltd ("Sam" or the "Company") is offering 114m new shares comprising 4.415m Public Offer Shares and 109.585m Placement Shares at $0.23 each for a listing on Catalist.  The Company aims to raise $26.2m and the majority of the proceeds will be used to repay debt and the balance for working capital. The market cap based on the IPO price is $231.8m and the offer will close on 14 Feb at 12 noon and starts trading on 16 Feb 2024 at 9am.   Principal Business SAM is a healthcare service provider using advanced technology for early and accurate diagnosis to detect and treat cancer, neurodegenerative and cardiovascular diseases.  SAM has strategic collaborations with public and private institutions for research and clinical work.  SAM's goal is to create a comprehensive one-stop ambulatory cancer centre to undertake the challenges to fight cancer and is one of the first to adopt proto beam therapy treatment in Singapore. Fi

XMH Holdings Ltd

XMH Holdings Ltd is issuing 100.95m shares (85m New Shares and 15.95m Vendor) at 25 cents each. 1.5m shares will be for public and the bulk via placement.  


The Company is a diesel engine, propulsion and power generation solutions provider in the marine and industrial sectors. Revenue for FY2010 is S$74.5m and net profit is S$17.58m.  The offer will close on 24 Jan 2011 at 12pm.


The NAV per share is about 7 cents post listing and EPS for FY2010 assuming service agreement in place and based on enlarged share cap is 4.01 cents and that will translate into a listing PER of about 6.25x. The market cap based on offer price is S$100m.


Prior to the listing, the Company paid a generous dividend of $17m to its shareholders, which i think, is "common" among listing companies.


The company is priced to sell at such low PER. I think downside is limited but the problem for public investors will be to get the shares via the allotment. A PER range of 7-9x will mean a fair value of 28c to 36c. The only "worrying" part will be the huge placement tranche but i guess it could be well absorbed as all investment banks and securities firms will want it to succeed to start the IPO ball again.

Comments

Anonymous said…
beside the low PE at IPO, what is the forward looking growth prospect for this type industry? does it sound interesting enug or it will be another stall counter after listing.....