Careplus Group Bhd

Can you believe it, Careplus IPO public issue has oversubscription rate of 46.75 times! The highest oversubscribe rate this year so far. The success rate is very low, I would say it is a lot lower chance than MHB and PCHEM that you will get it. For your info, I did not apply Careplus IPO. 

Due to the price is 23 cents per unit, it is affordable to buy more per applicant. Nonetheless, by looking at the applications, it has only close to 1,000. That's mean, less buyers but more lots applied.

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Newbie In The House

Wow, PCHEM's charm is irresistable! It took 41% of KLSE total volume today, at 0.64 billions. What a fat water for broker firms! Just too bad that the index is retraced today, and PCHEM is selling all the way from RM5.71 to RM5.30 and closed at RM5.31. Not as impressive as MHB but same fate as MAXIS.

That's the problem for large IPO in this country. The number of retail traders are not mature and the price is not cheap. The local market is not overwhelm by foreign investors but they are in the neighbor countries. In addition, the key fund managers already in during the IPO. So who else left to push up the price? Nonetheless, PCHEM debut is definitely a good news for KLSE. Welcome!

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Petronas Chemical Bhd

Tomorrow will be the day for PCHEM listing, which is Southeast Asia''s biggest IPO. It has the potential to outshine that of other big-capitalised firms in KLSE. According to Maybank IB research, they believe the share prices for PCHEM worth around RM6.64 per share, using discounted cash flow and PER valuation metrics, where OSK targets it to be RM5.51.

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Stupid Mistake

This morning, I don't know why, I made a weird mistake which I guess not many of you did it before. I believe it is due to my careless behavior. Thus, I comitted a stupid mistake that you would be laughing at me this morning.

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