Parkson Holdings: Prices set for IPO, but size smaller

Parkson Holdings Bhd has priced its regional retail arm Parkson Retail Asia Pte Ltd (PRA) at an IPO price of S$0.94 (RM2.33) per share. The IPO valued the whole of PRA at S$636.7m, which is a decent 18.2 times its net profit S$35m for FY11 ended June 30. However, the size of the IPO that will comprise the issuance of 80m new shares is smaller than previously anticipated. In a statement to Bursa Malaysia, Parkson Holdings said PRA’s listing on the Singapore Exchange (SGX) will involve an offering of 147m shares – 80m new shares to be issued by PRA and 67m existing shares by the vendors Parkson Holdings and its Indonesian partner PT Mitra Samaya.


by Financial Daily


Read The Analysis Here: Parkson Holding Financial Analysis

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