Gold stocks breaking out Adam Hamilton - Zeal Intelligence | July 12, 2024 | 9:40 am Markets Gold
The gold miners’ stocks are surging again, breaking out from recent months’ consolidation. This strong mid-summer price action is confirming their interrupted upleg is still growing. It should have a long way to run yet, with gold stocks still quite undervalued relative to gold. With gold’s fundamentals remaining very bullish and its miners soon reporting their best quarterly results on record, this breakout should accelerate.
5325 - + Initial Public Offering 19 Jul 2024, 13:32 Initial Public Offering Date of Listing : 23/07/2024 Enlarged issued share capital in the following : Unit : 600,000,000 Currency : Malaysian Ringgit (MYR) Par Value ($$) (if applicable) : 0.000 Enlarged Issued Share Capital ($$) : 344,146,606.511 Stock code : 5325 Stock name : WELLCHIP ISIN Code : MYL5325OO005 Board : Main Market Bursa Sector : FINANCIAL SERVICES Bursa Sub Sector : OTHER FINANCIALS Do you wish to list any child stock / new type of securities in conjunction with the IPO/Admission to LEAP Market? : No No. of child stock / new type of securities to be listed : 0 Remarks : Unless otherwise stated, all defined terms used in this announcement shall have the same meaning as those defined in the Prospectus dated 26 June 2024 issued by Well Chip Group Berhad.The enlarged issued share capital of Well Chip of RM344,146,606.511 is before deducting the estimated listing expenses, which is directly attributable to the issuance of the IPO Shares and offset against Well Chip's share capital. You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com
Earnings estimates and valuation. We forecast core PATAMI of MYR44.8m for FY24 (c.+27% YoY) with a 17% FY23-26F bottomline CAGR. Growth is expected to be driven by a strong increase in pawn loan disbursements in tandem with the greater availability of cash capital and steady network expansion. We derive our MYR2.11 FV by pegging a 25x target P/E to our FY25F EPS. Given its stronger transactions per store credentials and listing on the Main Market, along with the backing of a reputable and experienced parent, we think Well Chip deserves to trade at least at the P/E level of its cheapest peer.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Gold stocks breaking out
Adam Hamilton - Zeal Intelligence | July 12, 2024 | 9:40 am Markets Gold
The gold miners’ stocks are surging again, breaking out from recent months’ consolidation. This strong mid-summer price action is confirming their interrupted upleg is still growing. It should have a long way to run yet, with gold stocks still quite undervalued relative to gold. With gold’s fundamentals remaining very bullish and its miners soon reporting their best quarterly results on record, this breakout should accelerate.