The initial public offering (IPO) of PT Pembangunan Perumahan at a par value of IDR530-900 is considered too high than the stock price of construction property emitter at the stock exchange.
The highest price projection is counted to have 50 premium points to the shares of PT Bumi Serpong Damai Tbk, the emitter with largest market capitalization of construction -property sector emitters was closed at IDR850 price level.
Compared to two state construction firm stocks, the lowest price projection is still deemed premium if compared to PT Wijaya Karya Tbk worth IDR325, and PT Adhi Karya Tbk IDR415 per share unit.
Compared to two state construction firm stocks, the lowest price projection is still deemed premium if compared to PT Wijaya Karya Tbk worth IDR325, and PT Adhi Karya Tbk IDR415 per share unit.
With the target here, the company could tap some IDR530-900 billion proceeds from the 1 billion stocks. If it uses 2009 net profit asset projection worth IDR150 billion and full stock placement of 4.84 billion stocks, thus the earning per share (EPS) is IDR31 per unit.
The PER then ranges from 17.09 to 29.03 times which implies that investors should pay IDR17-30 for each net profit of the state firm here.
The PER then ranges from 17.09 to 29.03 times which implies that investors should pay IDR17-30 for each net profit of the state firm here.
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