Monday, January 25, 2010

Pembangunan Perumahan set price IPO at level IDR560

The IPO stock price of PT Pembangunan Perumahan (PP) is set at IDR560 or 5.67 percent above the bottom level of IPO prices of IDR530-900 per share unit.
With the IDR560 price, there was 1.4 times oversubscribed. But if it is set at IDR800, the demand will be under the offer. If the IPO of PP is set at IDR560, it means the fund generated from the PP stood at IDR582.4 billion with an estimated P/E of 7.38 times.
PP management targets to rake up net profit this year worth IDR367 billion or almost rose 130 percent as from the profit realization last year of IDR161 billion. refereeing to the estimation, it means the presumed net earning per share (EPS) of PP stands at IDR7583 per share.
With the EPS in 2010 estimation made by the PP IPO underwriters, PT Mandiri Sekuritas, the IPO price of IDR560 reflected the 2010 P/E of 10.67 times.
Referring to the assumption made by PT Danareksa Sekuritas as the other underwriter the IPO price of IDR560 reflected the estimated 2010 P/E of 10.50 times. PP plans to sell 21.46 percent shares to market or 1.04 billion shares.

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