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IPO Chilli Ratings

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Singapore Institute of Advanced Medicine Holdings Ltd

Singapore Institute of Advanced Medicine Holdings Ltd ("Sam" or the "Company") is offering 114m new shares comprising 4.415m Public Offer Shares and 109.585m Placement Shares at $0.23 each for a listing on Catalist.  The Company aims to raise $26.2m and the majority of the proceeds will be used to repay debt and the balance for working capital. The market cap based on the IPO price is $231.8m and the offer will close on 14 Feb at 12 noon and starts trading on 16 Feb 2024 at 9am.   Principal Business SAM is a healthcare service provider using advanced technology for early and accurate diagnosis to detect and treat cancer, neurodegenerative and cardiovascular diseases.  SAM has strategic collaborations with public and private institutions for research and clinical work.  SAM's goal is to create a comprehensive one-stop ambulatory cancer centre to undertake the challenges to fight cancer and is one of the first to adopt proto beam therapy treatment in Singapore. Fi

Libra Group Limited


Libra Group Limited ("Libra" or "the Company") is in the air-conditioning and mechanical ventilation business. The Company is placing out 31m Placement Shares (26m New and 5m Vendor) at $0.205 each. The IPO will close on 10 Nov 2011 at 12pm. The market cap of this company is $20.44m.


The Company's revenue was $6.3m in FY2008 and grew to $29.8m in FY2010. Profit grew from $0.8m to $3.7m during the same period. Based on the adjusted EPS of 3.71 cents for FY2010, the Company is listing at a historical PER of 5.5x. The first half performance is not very encouraging with revenue dropping from $17.7m to $11.7m for the same period last year and profit before tax dropping from $2.65m to $1.162m. Looking at the current trend, it seemed the FY2011 will not be as good as FY2010. As such, the company could possibly be listing at a high single digit forward PE.


One pre-IPO investor came in at around $0.15 per share and subject her "profit-portion" number of shares to be locked up for a year. (sounds like an equitable way). 


This is an ultra small cap company and is 'by invitation' only. In this regard, no analysis is done on the 'fair value' of this company and personally, this industry and sector is not my cup of tea and I leave it to investors who knows how to 'appreciate' it better.

Comments

Ren said…
You are right, high single digit P/E.

Current P/E: 9.43
What about buy and hold not forever but it could be for some time. Their are stocks like petsmart that traded at 2 dollars a share 11 years ago now the stocks almost fifty. Also pricesmart traded at about 5 or 6 dollars a share about eight or nineyears ago now its almost around sixty dollars. Their are many other examples Apple computer traded ar only 5 dollars a share in 1998 now its over 400. These stocks are being held quite a long time generally speaking I would say four to six years would be about right as far as buy and hold go. I have a website where I have been following stocks under five dollars. I generally hold my stocks anywhere form 2 to 6 years.