More important than any political posturings about carbon is the price being asked for the shares. If we take the midpoint of the price range, i.e. $2.75, as the institutional price, then the retail investor price is @2.65 - which represents 17.7 times forecast earnings per share in 2012.
This looks a high PE, and one which is unlikely to hold up in the first few months of trading. It's a puzzle why the Queensland State Treasury would ask such a high price, given that they also want to sell other assets later.
Hard to see the sale getting away at these prices in the current market.
Cheers, Prime
- Forums
- ASX - General
- qrn ipo
qrn ipo, page-12
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)