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is this worth apply for it
What this mean ?. (See below) thk Qs in advance...note that it PE Ratio is 24x. quite high lehh.
The price-to-book ratio for Financial One based on '06 earnings would be 1.6x at the IPO price.
Hong Leong Finance
The company, which has the biggest share of Taiwan's leasing market, plans to sell 225 million shares, or 27.5% of its enlarged share capital, valuing the company at US$616 million.
The price-to-book ratio for Financial One based on '06 earnings would be 1.6x at the IPO price.
Hong Leong Finance
The proceeds will be used to expand the company's operations in Asia and the United States, according to its prospectus.
The company's executive chairman and CEO Andre Koo is the son of Jeffrey Koo, chairman of Taiwan's Chinatrust Financial Holdings, Taiwan's top credit-card issuer.
Chinatrust is facing an investigation by financial regulators over irregularities in the stake purchase of its rival Mega Financial. In the midst of the probe, Jeffrey Koo Jr., vice chairman of Chinatrust and another son of Jeffrey Koo, resigned and fled the island.
The 3 substantial shareholders in Financial One - Andre Koo, his father Jeffrey Koo and Kenneth C.M. Lo - will retain a 65.7% stake in the listed firm.
Established in 1977, the firm operates in Taiwan, the United States, Thailand, China and Vietnam, but last year 70% of its operating income came from Taiwan.
The offer comprised 150 million new shares and 75 million existing shares.
It is expected to raise US$169 million by selling new and existing shares after it priced its IPO at the lower end of an indicative range, a source said on Wednesday.
The IPO was priced at US$0.75 a share, at lower end of the an indicative price of US$0.75-US$0.90 a share.
The company plans to sell 225 million shares. JPMorgan
My two cents worth...
The pricing is a bit at the upside as compared to recent IPOs.
With 11,250,000 for Public offering, the chances to get is relatively high.
Together with the instability of TW politic and with market sentiment is no good during trading, the upside is not positive.
Furthermore, seems like this is going to be traded in USD, which do not offer gd xchange rate now.
However, if for long term after TW election, this should be moving up well.
hows everyone looking at this... i afraid first day already surpass singinv... then no show already
Financial One Corp. is a leading Tawian-based finance company that provides a variety of financing services to a customer base consisting primarily of small and medium-sized enterprises in Tawian and selected international markets including the US, Thailand and the PRC. Financial One Corp. business comprises 6 segments - finance and operating leases; installment sales; factoring; direct financing loans;US commercial real estate and other financing loans; as well as other financing and non-financing business.
Public offering closing - 9 July 2007, 12 noon
Commence trading on "ready" basis - 11 July 2008, 9am