Thu, 09 Nov 2006
Jakarta (ANTARA News) - PT Mobile-8's indicative price range of 200-240 rupiah per share for its planned initial public offering (IPO) of 3.9 bln shares is "expensive" compared to its telecom peers, brokerage firm UOB Kay Hian said.

The IPO is slated for Nov 22-24.

"At an indicative IPO offer price of 200-240 rupiah per share, this puts its valuation at a P/E of 23.3 to 28 times prospective 2007 earnings. This would make Mobile-8 nearly twice as expensive as its closest peer Bakrie Telecom, another small CDMA operator with a small market cap, which is currently valued at 12.2 times," UOB was quoted by XFN-Asia asa saying in a note.

It added that the shares appear expensive when compared to the two telecom majors PT Telekomunikasi Indonesia and PT Indosat, as well.

Mobile-8, a 75.9 pct-owned unit of diversified conglomerate PT Bimantara Citra, operates the US-based CDMA system and at end June its market share stood at 2.3 pct with 1.3 mln subscribers.

UOB said the country's top three operators -- PT Telekomunikasi Indonesia, PT Indosat and PT Excelcomindo had a 95.8 pct share of the mobile phone market as of end June. (*)



News Search/Filter
Transaction Rates
19 Jan 18
Buy
Sell
AUD1
11,086.93
10,282.76
BND1
10,477.24
9,716.77
BTC1
159,838,574
159,838,574
CAD1
11,138.76
10,332.58
CHF1
14,435.86
13,386.54
CNH1
2,161.53
2,004.78
DKK1
2,274.54
2,109.98
EUR1
16,936.06
15,710.28
GBP1
19,222.32
17,828.67
HKD1
1,768.74
1,640.75
JPY100
12,455.87
11,554.25
LAK1
1.67
1.54
NOK1
1,763.82
1,635.42
NZD1
10,093.86
9,358.93
PGK1
4,398.26
3,862.13
SEK1
1,725.45
1,600.09
SGD1
10,477.24
9,716.77
THB1
434.25
402.60
USD1
13,831.00
12,831.00
VND1
0.61
0.56
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services