here is the shareholder list which we know. Lembaga Tabung Haji 6.57%, Employees Provident Fund (EPF) 5.63%, Sime Darby Berhad 12.10%, Mutual Fund company 8.36%.
E&O shares will go to RM3.00 to RM3.50 range to cater for resitricted offer for KWAP block. Bear in mind Terry Tham bought from Sime Darby big block at RM2.90 mid of last year. And also STP2A land cost valuation at RM3.8B or RM3.16 per share and not taking about GDV and STP2B & 2C. Next week, will be exciting week for Property Counters in tandem with EcoWorld International Bhd IPO listing.
The announcement was a positive surprise as the land sale crystallises the value of the land at least at RM530 psf, the implied value based on the land selling price. “We raise our TP (still based on a 70% discount to RNAV) to RM1.90 to reflect the higher-than-expected selling price of STP2A. “We also raise FY18-19F EPS by 55-506% to reflect the earnings contribution from the land sale. But the stock remains a Reduce due to its rich valuations,” it said. CIMB Research said the 1.4 million sq ft is equivalent to 20% of the net area of STP2A. The remaining land will be retained by E&O. E&O also proposed restricted issue of 66.1 million ordinary shares, equivalent to 5.2% of E&O’s current outstanding shares, for a price between RM1.84 to 1.94 per share, potentially raising RM122mil to RM128mil.
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....
jfm3737
332 posts
Posted by jfm3737 > 2017-03-30 14:14 | Report Abuse
huat liao