Apex Securities Bhd has recommended investors to “subscribe” to ACE Market-bound Zantat Holdings Bhd at an initial public offering (IPO) price of 25 sen with a target price (TP) of 32 sen, and said that at an IPO offer price of 25 sen, Zantat’s forward price-earnings (P/E) valuation for the financial year ended Dec 31, 2023 (FY2023) and FY2024 is projected at 9.2 times and 10.1 times, based on estimated earnings per share (EPS) of 2.7 sen and 2.47 sen respectively.
TheEdge11 Mar, 2024 08:14am - 1 month