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ANYONE GOT THE IPO
die die must apply... :) good luck
borrow from AhLONG, CREDIT CARD, MARINA BAY SANDS, GENTING and go apply tis ipo..
IMHO I think the current market condition isn't good for IPOs. Anyone has a different view?
Sunmart is now one of China's leading makers of cosmetic and pharmaceutical packaging. It manufactures spray pumps, aluminium cans and plastic bottles used to package fast-moving consumer goods like perfumes or make-up. They are also used to package disinfectants, antiseptics or health-supplements.
The business has nearly doubled spray-pump capacity in 2 years to reach 720,000 pumps and 130,000 other products per year in FY06. Utilisation rates are around 79%, but CFO Ho Soo Hui says this includes downtime for maintenance and capacity is 'really very full'.
Sunmart is building a new factory, to up capacity in 2 phases to 1.2 billion spray pumps, 70 million plastic bottles and 15 million aluminium cans per year. Phase 1one will start operating by the H108 and phase 2 by end FY09.
It is raising net proceeds of $21.1 million from the issue of 102 million new shares representing 25.4% of the firm's enlarged share capital. There are 5.1 million shares on public offer and 96.9 million placement shares at an issue price of $0.25. This represents a historical PER of 7.8x, given the firm's FY06 eps of $0.032.