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Thai Sri Trang sets IPO price at S$1.20
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Fluffyclouds
Master |
26-Jun-2020 15:44
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The subscription period for the 438.78 million new shares, priced at the top of a marketed range of 32-34 baht apiece, closed Thursday. The shares are expected to make their debut on the local stock market on July 2. " The shares got a very warm welcome from local funds and foreign investors as they realized that demand for medical gloves tends to rise substantially higher due to the pandemic," said Passakorn Linmaneechote, managing director of Kasikorn Securities, one of the underwriters for the deal which sold roughly 31% of the company. 32baht = $SGD 1.44 34baht = $SGD 1.53 Also, Thailand bank interest rate is currently low. Despite economy downturn people are still investing in this. Cant wait for July to August 2020 period. Like others, i was hoping the IPO date to launch like a rocket, well it did for a moment but it drop back because of " trade deal with china was over" statement was issued out by USA but ended up retracted back their statement. It impacted the whole investor causing a scare. Sit tight and relax! |
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furnaces
Veteran |
26-Jun-2020 15:41
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World Third Largest Glove Maker is Massively Undervalued Sri Trang Agro has spun-off its Glove unit and the new IPO will begin trading next Thursday. With this IPO Sri Trang Agro will reduce its stake in its Glove unit from 73% to 50.7% raising 14.9billion baht or about S$671m. This means that at IPO price of 34 baht, Sri Trang Glove will be valued at around 66.81b baht or S$3b. For the world&rsquo s third largest glove maker with an annual production capacity of 32.6b, a valuation of $3b represents a massive discount to its peers. Top Glove and Hartalega still command market capitalisation of S$13.2b and S$13.18b respectively even after recent price retracement. How to make note of next week Glove unit IPO? At S$1.28, Sri Trang Agro is trading at market capitalisation of S$1.966b. At IPO price of 34 baht Sri Trang Agro&rsquo s 50.7% stake in its glove unit will be valued at S$1.521b. In addition, it will receive proceeds of S$671m from the IPO. Just these 2 parts alone is worth $2.192b and already exceed its current market capitalisation. We have not even include is main rubber business. Will the IPO only open at 34 baht? As I have mentioned earlier, the IPO valuation is only around S$3b which is a massive discount to its peers. For a conservative estimate, I would expect the trading price to be at least 50% higher next week, which will bring the market capitalization of the glove unit to S$4.5b. This means that Sri Trang Agro stake in the glove unit will be valued at S$2.28b. If I take only into account my estimated glove unit valuation and cash received from next week IPO, total worth should be S$2.951b. Translate it to per share, the value is S$1.92. And this is excluding its main rubber business. I skip the rubber business because I do not have a basis on how to value it accurately. Next week Sri Trang Glove IPO should unlock the value of STA assets and expect the price to shoot up after IPO given the degree of under-valuation to its peers. |
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Fluffyclouds
Master |
26-Jun-2020 14:54
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Closing need be above 1.28$ | ||||
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hokpin
Supreme |
25-Jun-2020 21:04
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This one, I am not sure.
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PQTPQK
Supreme |
25-Jun-2020 18:30
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The ballot result when?
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PQTPQK
Supreme |
25-Jun-2020 17:55
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Thanks
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hokpin
Supreme |
25-Jun-2020 17:45
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2 July start trading.
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PQTPQK
Supreme |
25-Jun-2020 17:35
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Do u know when the ipo going to trade in Thai market ?
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hokpin
Supreme |
25-Jun-2020 16:26
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Finally show power now. Chiong! | ||||
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a79991
Veteran |
25-Jun-2020 16:21
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If today closed 1.37 tomorrow would chiong up | ||||
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Fluffyclouds
Master |
25-Jun-2020 16:20
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Shortist burning their butt when they woke up | ||||
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a79991
Veteran |
25-Jun-2020 16:19
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Shortlists covering positions |
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_newbird_
Member |
25-Jun-2020 16:18
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go!
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Timer78
Veteran |
25-Jun-2020 16:15
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Lets go! | ||||
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PQTPQK
Supreme |
25-Jun-2020 16:15
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all sudden cheong !!!! |
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stanip
Veteran |
25-Jun-2020 16:00
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SG side premium has almost totally gone vs TH price. SG used to be 8-10% premium...
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_newbird_
Member |
25-Jun-2020 15:59
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27.25thb as of now, can go their website to see thai price | ||||
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stanip
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25-Jun-2020 15:57
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well said. picking up some today...
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PQTPQK
Supreme |
25-Jun-2020 15:55
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what is the price in thai ?
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_newbird_
Member |
25-Jun-2020 15:54
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thai side coming up | ||||
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