Malacca Securities Publish date: Thu, 08 Aug 2024, 09:24 AM
- We ascribe a fair value of RM0.54 (upside of 86.2% against IPO price of RM0.29) for Elridge Energy Holdings Berhad (EEHB). The valuation is derived by pegging a P/E of 20.0x to the FY25f EPS of 2.71 sen. We believe a P/E of 20.0x is justified as it in line with the average P/E of 20.8x of the selected peers.
Publish date: Fri, 09 Aug 2024, 11:50 AM - MYR0.38 Future Value, based on 16x FY25F P/E. Our 16x P/E target was obtained after benchmarking against the Bursa Malaysia Industrial Products and Services (KLPRO) Index. The 16x P/E ratio is at a discount compared to the weighted industry average of the renewable energy (RE) players.
Publish date: Fri, 09 Aug 2024, 09:43 AM - At an IPO price of RM0.29/share, Elridge is priced at a trailing PER of 24.6x FY23 EPS. We value the company at 18.6x FY25 EPS, arriving at a fair value of RM0.47/share.
First-Day Gain: If ELRIDGE’s stock price increases by 20% on the first day, its market cap could reach around RM700 million. Value for MIKROMB: MIKROMB’s 20.6% stake in ELRIDGE would then be worth approximately RM140 million. Current Situation:
MIKROMB Market Cap: RM300 million. Stock Price: Trading at RM0.285 per share. Opportunity:
With ELRIDGE’s potential value increase, MIKROMB’s stake would significantly boost its value. This additional value is nearly 50% of MIKROMB’s current market cap. Conclusion:
MIKROMB’s stock is currently undervalued considering the upcoming IPO of ELRIDGE. This makes it clear why MIKROMB is an attractive buy right now. 🚀🚀🚀🚀
Lai Kwong Yih, so last min baru want to close short position? I think today's selldown is intentionally by bosses. Hope tomorrow go up back to 0.30 above :)
i checked, start from last 2qr associates net profit dah masuk. masa tu under bio eneco. Hope hari ni boleh buat hammer formation. i noticed strong support at 0.23 level. Hopefully bottom today is 0.235 just above support level.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Zamarull
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Posted by Zamarull > 2024-08-08 14:34 | Report Abuse
Malacca Securities
Publish date: Thu, 08 Aug 2024, 09:24 AM
- We ascribe a fair value of RM0.54 (upside of 86.2% against IPO price of RM0.29) for Elridge Energy Holdings Berhad (EEHB). The valuation is derived by pegging a P/E of 20.0x to the FY25f EPS of 2.71 sen. We believe a P/E of 20.0x is justified as it in line with the average P/E of 20.8x of the selected peers.