I've just had a quick look at the Prospectus. To be fair they are pricing that PE of FY15 numbers but also on the number of shares on issue prior to the offer.
Looking at the growth momentum there will be healthy NPAT growth in FY16 but EPS growth will be diluted by the new shares.
So even with say 30% NPAT growth in FY16 (off 25% EBITDA growth) EPS would only rise around 8% to 3.67c. PE at $1 say 27x.
These are really rough numbers after a 5min glance at the prospectus
