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Ya, i think you are absolutely correct, today top volume and reached 0.80 liao !!!
IFC's (which promotes socially and environmentally substainable private sector investments) investment is a testimony to its capabilities and strong track record. This would help boost the companies corporate governance. In this respect, Epure is much better than Bio-treat and is a good alternative. Investors may switch from Bio-treat to Epure.
Its profit base of close to $20m this year and market cap of $308m makes it the 4th largest SGX-listed water treatment company, implying potential institutional interest.
As at 2 Oct, Hyflux (market cap $1.1b), Biotreat (16x PE, $640m), Sinomen (15x, $388m), Dayen (17x, $38m), Asia Env (15x, $89m) and United Envirotech (16x, $81m).
Hi,
You all predicted correctly, it is picking up now at 0.77 !!!
At $0.735, forward PE is 15.8x. This is slightly lesser than peers of 16-17x.
Mgt targets to maintain net margin at its historical average of 20-21%, translating to a '06 profit estimate of at least RMB93.7m, giving it a fully diluted forward PE of 14x at $0.65.
CIMB-GK said the new listing was warmly received because Epure offers investors an alternative to Bio-Treat Technology, which recently posted disappointing year to June results.
"Epure is likely to attract institutional interest as an alternative water stock to Bio-Treat. Like Bio-Treat, Epure focuses on municipal wastewater treatment for discharge into the environment, but unlike Bio-Treat, it has successfully completed a few big industrial projects," CIMB-GK said.
The brokerage has no formal rating for Epure now. However, it reckons that Epure should be fairly valued at $0.83, based on prospective 11x PER for 2007. This valuation represents at 5%discount to Sinomem, another China-centric water and wastewater treatment company, it said.
IPOs usually quite hype up on first day... after a while, the price may fall to moderate levels.
wow starting at $0.7, abt 7.7% of kopi money =)
any one dare to go in now?
any one dare to go in now?