Prestariang Bhd, an information and communications technology (ICT) training and certification provider is schedule to be listed in Main Market on 27th July 2011.
The IPO consists of public issue of 99 million ordinary shares at an IPO price of RM0.90 per share with RM0.10 par value.
Out of this, 8 million shares are allocated to Malaysian public. The rest are allocated to identified investors and eligible directors, employess and person who contributed to Prestariang Berhad.
The IPO will raise funds for future expansion and growth, which includes research and development (R&D) expenditure and working capital.
Besides ICT training and certification, Prestariang also provides software licence distribution and management. More information regarding the company can be found in Prestariang webpage.
Prestariang intends to pay up to 50 percent of their net profit as dividend for the next 3 years. Based on 2010 figures & IPO price, this translate to annual dividend yield of 3.82 percent.
The table below is financial summary for Prestariang Bhd.
| FYE 2006 | FYE 2007 | FYE 2008 | FYE 2009 | FYE 2010 | |
|---|---|---|---|---|---|
| Revenue (RM’000) | 63,846 | 48,436 | 46,358 | 39,425 | 58,520 |
| Profit after Tax (RM’000) | 5,320 | 5,038 | 7,455 | 7,516 | 15,133 |
| Earnings per Share (sen) | 2.42 | 2.29 | 3.39 | 3.42 | 6.88 |
| Price Earnings Ratio (x) | 37.22 | 39.30 | 26.56 | 26.34 | 13.08 |
AmInvestment Bank is sole Adviser, Underwriter & Placement Agent for the IPO.
For those who are interested in Prestariang IPO you may subscribed at ATM machines or via Internet Banking. The subscription period is opened until 15th July 2011 at 5pm. Tentative balloting date is on 19th July while allotment date is on 22th July 2011.
View Prestariang Bhd prospectus in Bursa Malaysia webpage. Prestariang Bhd stock name in Bursa Malaysia is “PRESBHD”.
What do you think about Prestariang IPO? Are you going to subscribe?
Hi guys any advise for this? is it ok?
This counter is overpriced. I’d go for Inari BHD instead.
alwiser, yes PE is higher than Inari but Prestariang has higher growth from 2009 to 2010.
Fair Value/ Target Price for Prestariang
HwangDBS – RM1.09
TA – RM0.98