Wow ! It’s all we can say to an impressive debut for MSM at Bursa yesterday. At 9.01am, the stock surged 91 sen to RM 4.41 which is 26% above its institutional offer price & 30% against it retail offer price.
The stock continues its momentum in the morning & afternoon session. At the closing, MSM surged almost 40% to close at RM 4.89 and was the most active stock with 101.92 million shares being traded.
Point to note that AmResearch has valued MSM at RM4.53 per share while RHB Research Institute had a fair value of RM4.90 to the shares. With these lower target prices for the stock, we might see a profit taking activities in near term. Based on FY2010, MSM currently being traded at 16.2 PER.
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