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Oxley Holdings placement - new share at 0.38 ct
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teeth53
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23-Oct-2010 12:50
Yells: "don't learn through life, learn to grow with life " |
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Note - Just FYI only. As this offer is by invitation only Oxley Holdings Limited is offering 224m New Shares at $0.38 each by way of placement for a Catalist listing. The Company is a SME developer specializing in residential cum commercial developments. Due to it rapid expension. The mkt cap will be $565.8m, its net profit after tax for year ending 30 June 2010 is about just over half a million, to be exact $549k. It EPS based is when fully diluted is S$0.04 cents, translated into a historical Listing PE Ratio of 875 times. It appeared to be expensive, but what can happen, who know ?. Projected earnings coming on in FY2011. The NAV per share in post IPO is 8 cents Vs What investors has to pay for at 0.38 cents. Pre-IPO investors paid 21.3 cents. The owners and pre-ipo investors controlled 85% of the company post IPO and will be under moratorium. One can imaine, the stock will be closely controlled (moniter) and as with others small post IPO. Collin Stewart's IPO-ing is d manager, Teeth53 thot - Just sharing it own personnal opinion This counter is overpriced with d govt action has successful in cooling the hot properties and consolidation d property sector over d next few Qs. Post IPO will only be manageable due to it high PE Ratio of 875x. The offer will close on 27 Oct at 12pm. It intend to distribute at least 50% of its net profits as dividend in FY2011, at least 30% in FY2012 and at least 20% from FY2013-2015. (This's seen to be the longest commitment for a dividend payout policy commited by Oxley Holdings). |
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