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Precision Air IPO
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mwekez@ji
#41 Posted : Thursday, September 22, 2011 7:58:05 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Sober wrote:
58,841,750 shares on offer at 28.00 Ksh each. i am in.


Thats fast. You haven't even read the prospectus
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mwekez@ji
#42 Posted : Thursday, September 22, 2011 7:59:39 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
The initial public offering (IPO) cost puts the airline’s price to earnings (P/E) ratio at 50, above that of all NSE stocks except Kenya Orchads’, whose P/E stands at 75. A high P/E ratio denotes a stock that has a high future growth potential, or one that is over-priced.


http://www.businessdailyafrica....39552/1240452/-/jxjwy/-/
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stocksmaster
#43 Posted : Thursday, September 22, 2011 8:13:37 AM
Rank: Member

Joined: 9/26/2006
Posts: 463
Location: CENTRAL PROVINCE
mwekez@ji wrote:
The initial public offering (IPO) cost puts the airline’s price to earnings (P/E) ratio at 50, above that of all NSE stocks except Kenya Orchads’, whose P/E stands at 75. A high P/E ratio denotes a stock that has a high future growth potential, or one that is over-priced.


http://www.businessdailyafrica....39552/1240452/-/jxjwy/-/


One of its majority shareholders (KQ) is trading at a P/E of 3.73......same industry.....bigger player hence better economies of scale...trading in a more liquid stock exchange.

At a comparative P/E, Precision Air would be valued at: Ksh 28 x 3.73/50 = Ksh 2.10......Sad

Happy Hunting!
x handle: @stocksmaster79
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mwekez@ji
#44 Posted : Monday, September 26, 2011 8:53:08 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
stocksmaster wrote:
mwekez@ji wrote:
The initial public offering (IPO) cost puts the airline’s price to earnings (P/E) ratio at 50, above that of all NSE stocks except Kenya Orchads’, whose P/E stands at 75. A high P/E ratio denotes a stock that has a high future growth potential, or one that is over-priced.


http://www.businessdailyafrica....39552/1240452/-/jxjwy/-/


One of its majority shareholders (KQ) is trading at a P/E of 3.73......same industry.....bigger player hence better economies of scale...trading in a more liquid stock exchange.

At a comparative P/E, Precision Air would be valued at: Ksh 28 x 3.73/50 = Ksh 2.10......Sad

Happy Hunting!


I wonder the valuation method used by PW
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  | | Edit by user: Monday, September 26, 2011 9:00 AM | Reason: Not specified
mwekez@ji
#45 Posted : Monday, September 26, 2011 8:58:59 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
On another note:

The DSE share index was up 0.4 per cent in the month of August coming third only to the Namibian and Tunisian stockmarkets which rose 5.8 and 1.3 per cent. In the same month NSE was the worst performing among the continent’s top 16 equity markets.

http://www.theeastafrican.co.ke.../0/-/gnnarp/-/index.html
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mwekez@ji
#46 Posted : Wednesday, September 28, 2011 8:28:21 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Quote:
Sterling said Precision Air’s IPO price of Tsh475 (Sh29.39) is “over-priced,” ... Precision Air’s net profits as of 2011 stood at Tsh1.1 billion (Sh67.8 million), a 54 per cent drop from the Tsh2.8 billion (Sh172 million) posted in 2010.


http://www.businessdailyafrica....34/-/qe90rm/-/index.html
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  | | Edit by user: Wednesday, September 28, 2011 8:29 AM | Reason: Not specified
mwekez@ji
#47 Posted : Wednesday, September 28, 2011 8:33:58 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Anybody with the said research report by Sterling Capital will do us good by sharing
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FUNKY
#48 Posted : Wednesday, September 28, 2011 9:13:11 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
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mwekez@ji
#49 Posted : Thursday, October 06, 2011 7:55:16 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
PW is in denial on the company making a loss in 2011. Have a look at the management report Vs the audited results. And the projected results for 2012 are not any encouraging

Jisomee

http://www.precisionairtz.com/F...eptember%202011%20V3.pdf
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the deal
#50 Posted : Thursday, October 06, 2011 9:44:39 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
After reading the prospectus and applying my various analytic skills I rate this company/IPO Avoid/Sell.
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