Sampoerna Agro, too expensive?
PT Sampoerna Agro Tbk has listed 461 million shares at JSX on Monday with initial price of Rp2,340/share. While the share jumped Rp360 shortly after the trading kick-off, the share price was closed with only 8% gain. Some says the valuation was too high, approximately at US$10,000/hectare of Sampoerna Agro's palm oil plantation.
Valuation of PT Astra Agro Lestari Tbk, for comparison, is around US$12,000. "Most of Sampoerna Agro's assets have lower quality than Astra Agro," other investment banker argued.
Acquisition of new plantations in Riau, for example, is around US$4,000 to US$5,000 per hectare.
READ MORE!!!
Valuation of PT Astra Agro Lestari Tbk, for comparison, is around US$12,000. "Most of Sampoerna Agro's assets have lower quality than Astra Agro," other investment banker argued.
Acquisition of new plantations in Riau, for example, is around US$4,000 to US$5,000 per hectare.
READ MORE!!!
posted by yosef at 1:02 AM
1 Comments:
your view and coverage is interesting . Can we recieve your full article ?
Post a Comment
<< Home