iFAST

(04-12-2014, 05:17 PM)jovialger Wrote: It is priced at $0.95 per share.

http://www.btinvest.com.sg/markets/news/...ce=si_news

I heard most placements were taken by institutional investors, not much left for individuals.

Think worth at least a punt?

at 95cts, it is trading at 23x PE ratio.
NAV is 24cts after IPO.

SPH Asiaone cost price is 60cts,

The rest of the founders or investors cost is between 47 - 83cts.

I think it is too high a valuation to ask for IPO price.
With the low float, i guess it is easier for the price to move higher

(05-12-2014, 11:31 PM)cloud_soon Wrote: at 95cts, it is trading at 23x PE ratio.
NAV is 24cts after IPO.

SPH Asiaone cost price is 60cts,

The rest of the founders or investors cost is between 47 - 83cts.

I think it is too high a valuation to ask for IPO price.
With the low float, i guess it is easier for the price to move higher

At 23x pe ratio and price to book ratio of almost 4x, if net profits do not grow or remain stagnant, investors will be in for a very tough ride.

On the other hand, if profits do rise, has the current rich valuation priced in future growth?

Personally, on a conservative note, dont think this is worth a punt or to be held long term. Shall pass on this..

Did a quick caluculation, after considering the new shares offered, the pe ratio is around 28 to 29x. The 23x pe ratio was based on the earnings of FY 2013 and the pre-offering share capital of 204m shares

Generally this year seems quite good for IPOs, that the reason why the vendors can offer at such a big premium, with this I am not expecting any hit & run but rather hit & cut.

IPO 12.4x over subscribed. Count Schoders, Affin-Hwang, Lion Global, Fidelity and OWW as shareholders!

Congrats to shareholders still holding on. Up more than 5% today!
Hold tight!

First the good news:

http://www.businesstimes.com.sg/banking-...read-risks

Then the bad:

http://www.straitstimes.com/business/com...ore-stocks

FSMOne put up a notice on its www.fsmone.com website yesterday, saying: "Due to a sudden decision by OCBC Securities, our appointed counter party, to turn off our connection to the Singapore Exchange (SGX), no trading in SGX stocks or exchange-traded funds (ETFs) is available." It added that trading in Hong Kong stocks and ETFs was not affected.

Asked about the abrupt decision, iFast chairman and chief executive Lim Chung Chun would only say: "In my opinion, they are afraid of competition to their retail base."

OCBC Securities' general manager Yeow Chin Wee said: "We are able to provide such an arrangement if the intermediary's business model does not involve offering services identical to those we provide our customers."

iFast has FSMOne and also online unit-trust distributor Fundsupermart.com under its stable.

As an appointed counterparty, OCBC Securities acted as a middleman to execute and settle SGX stock and ETF trades for FMSOne.

The Straits Times understands the platform was to be given a notice period of three months before OCBC Securities turned off the connection to the SGX, but it happened in just one hour before the market opened yesterday.

Can their business sustain? POEMS, dollardex... all others now attack their platform fee grounding. On what basis will u continue with ifast if u need to pay platform fee regularly...

After 2 years from IPO, earning seems to have dropped. Its p/e ratio is still above 25, still not attractive even with its depressed share price. iFast is trying very hard to support its share price with its frequent share buyback