It will do well because of key points below:
- Valuation is very lucrative - 1.88: (Market Cap to EV); 1.15 (Market Cap to Revenue). Peer has 10 times or higher valuation so below 2 is massive +
- EBITA of $3.66 m
- Money raised in the IPO would be predominantly invested in bioenergy assets.
- None of management is selling down
- Above all it is renewable energy sector which is hot industry now
