It looks like a buy to me.
19% growth year on year. 40m profit and a market cap of $150m, this company should valued above $700m. I feel like I've read the prospectus wrong or there's something else at play because at first sight this seems to be a really cheap buy in.
My inner gut says they're listing to get a foothold in Australia. Ie they're here to tap into the Australian brand and production methods to take back home. I have no issues with that as long as standards are met. It only takes a health scare to destroy all the value now in a2m and bal.
In terms of the product I have no idea so I'll generalise. The way Bellamy's and co are priced in China and the way the Chinese diet is changing, I 100% believe Chinese dairy companies will thrive once again over time as they rebuild their reputation. The poor want what the middle class/ rich have but they won't want to pay the same price not when the average pay is $5k. What do you guys think?
BTW if you buying into the IPO use onmarket. Seriously easy! Let me know if you think I've been looking at the numbers wrong.
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