Bursa Malaysia Stock Watch
Buy AirAsia as proxy to Garuda: UOB
kltrader
Publish date: Thu, 13 Jan 2011, 11:27 AM
kltrader
0 20,638
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AirAsia Bhd would be revalued to RM3.80 a share if its Indonesian unit is listed on the Jakarta Stock Exchange at 20 times forward price earnings multiple, according to UOB Kay Hian.
AirAsia's shares rose 2.8 per cent to RM2.94 at 9:56 a.m. in Kuala Lumpur.
The 20 times multiple estimate comes as PT Garuda Indonesia plans an initial stock sale whose shares could trade at 19.2 to 28.2 times based on indicative share pricing range of 750-1,100 rupiah per share, UOB Kay Hian said in a report today. - Bloomberg
AirAsia's shares rose 2.8 per cent to RM2.94 at 9:56 a.m. in Kuala Lumpur.
The 20 times multiple estimate comes as PT Garuda Indonesia plans an initial stock sale whose shares could trade at 19.2 to 28.2 times based on indicative share pricing range of 750-1,100 rupiah per share, UOB Kay Hian said in a report today. - Bloomberg
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