Investors and analysts were generally bullish on Petronas Chemicals Group Bhd’s (PCG) listing on Bursa Malaysia tomorrow, saying Southeast Asia’s largest initial public offering (IPO) to date will hold its ground although tension in the Korean peninsula continues to threaten sentiment.
Apart from the chemical company’s strong financial fundamentals, analysts say it enjoys strong leverage from its parent company, the national oil corporation, Petroliam Nasional Bhd (Petronas).
Investment houses giving early target or fair prices for PCG. Most of them generally targeted higher than IPO subscription prices. For comparison the IPO price is RM5.04 for individual and RM5.20 for institutional investors
|No||Investment or Research Companies||Target / Fair Price (RM)|
|1||Affin Investment Bank||5.70|
|3||JF Apex Securities||5.70|
|4||Maybank Investment Bank||6.70|
If you have target or fair prices from another broker, kindly leave your comment.
perhaps you could share with readers buy targets from various brokers for MMHE listing? that will give a good indication on by target price for PCG as well.
I will look into it and publish if I manage to get the data.
Thanks John. 🙂 Table updated.
For information, Petronas Chemical Groups will be listed with 5183 & PCHEM stock trading code.
Affin Securities RM5.70
Great! :). Table updated
im 1 of da st0ck buyers for Petronas Chem..FYI..im a new bird in this area..can u giv me a short advise when i should sell it..coz after 2 weeks..the price is still below 5.50..-_-‘
This is just target price where we should anticipate the price going to be. It may or maybe be there at all. Obviously I did not know when it will reach 5.50 again. If I know I will be multi millionaire already. 🙂 Anyway, I believe PCHEM is good for long term.