Sunday, November 24, 2013

IPO - Titijaya

Titijaya’s listing will gauge investor appetite for property stocks as some opine that the industry is starting to slow down post Budget 2014’s tabling.

However its landbank in strategic locations in the Klang Valley, the developer will have the upper hand in investment merit considerations.

Its current landbank of over 4671 acres which has an estimated GDV of rm4.87 billion, will provide visibility earnings for the next five years from Nov 2013.

Its portfolio is diversified with products ranging from residential buildings to commercial and industrial projects.

Some of its key ongoing projects are Subang Park Homes, Seri Alam Industrial Park Zone, The Galleria and 3 Elements.

It will launch rm1 billion worth of projects in 2014.

It is raising rm122.56 million for working capital and land purchases in the Klang Valley and Penang.

It plans to adopt a 30% dividend payment policy.

Its substantial shareholder and promoters will hold about 61.7% of the company post listing.

It was reported that it may see an institutional investor emerging as its substantial shareholder. Sources say it is likely to be LTH and the LTAT.

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Please note that all data given are merely blogger's opinion. It is strongly recommended that you do your own analysis and research before investing.