22 Sep 2012 – PETALING JAYA: Few recent initial public offerings (IPO) have stirred quite as much polemics as the return of Astro Malaysia Holdings Bhd.
While industry observers say the new RM3 retail price for the comeback listing of Malaysia’s largest pay-TV operator is “fairer” compared to the indicative RM3.60 set for bumiputra investors, the investment community is still largely divided on the stock.
One fund manager told StarBizWeek that despite Astro’s historical price-to-earnings ratio (PER) shrinking slightly to 24 times based on the retail price and net earnings of RM629.6mil for the financial year (FY) ended Jan 31, 2012 he remained unconvinced and would not be subscribing for the shares.
Read more: http://thestar.com.my/news/story.asp?file=/2012/9/22/business/12065169