Trans-Cab -- IPO

[SpinFire]

Quick analysis of prospectus.

Post-IPO P/E = 68/4.9 = 13.9x (fairly valued, IMO)
Net profit margin = 20% (good)

Dividends calculation (not sure correct or not)
Management also intends to pay out >15% of FY2014 EPS and 60% of FY2015 EPS as dividends.
FY2014 dividend yield on IPO price ~1.1%
FY2015 dividend yield on IPO price ~4.7% (Conservative assumption that FY2015 EPS same as FY2014 EPS of 5.4c, good)

The listed transportation stocks on SGX are all trading at high PERs.
SBSTransit P/E=46
SMRT P/E=38.17
ComfortDG P/E=21 (still high, but more sane)
If you benchmark TransCab IPO's PE against these stocks, there's pretty good upside if market values it as such.

 

[sellbuyboy]

this one can hoot?

 

[itedino]

Quick analysis of prospectus.

Post-IPO P/E = 68/4.9 = 13.9x (fairly valued, IMO)
Net profit margin = 20% (good)

Dividends calculation (not sure correct or not)
Management also intends to pay out >15% of FY2014 EPS and 60% of FY2015 EPS as dividends.
FY2014 dividend yield on IPO price ~1.1%
FY2015 dividend yield on IPO price ~4.7% (Conservative assumption that FY2015 EPS same as FY2014 EPS of 5.4c, good)

The listed transportation stocks on SGX are all trading at high PERs.
SBSTransit P/E=46
SMRT P/E=38.17
ComfortDG P/E=21 (still high, but more sane)
If you benchmark TransCab IPO's PE against these stocks, there's pretty good upside if market values it as such.

What is P/E? higher better right

 

[EvilPaladin]

can someone tell me how the dividend per share is so high compared to the Total dividend?




trying to do my homework, and then got thrown off by the huge dividend payout - page 34 - 35

 

[Paul Lee]

If you benchmark TransCab IPO's PE against these stocks, there's pretty good upside if market values it as such.

That a very big IF. No one in his right mind would benchmark a young upstart against the established and entrenched players. Of cos we know the market is full of crazies

Your 'fairly valued' valuations is probably not far off the mark.

 

[Paul Lee]

can someone tell me how the dividend per share is so high compared to the Total dividend?

trying to do my homework, and then got thrown off by the huge dividend payout - page 34 - 35

You are looking at the pre-IPO statistics.

They can give high dividends then because the no of shares pre-IPO is lower. Those are for disclosure and not really relevant after the company goes public.

 

[EvilPaladin]

You are looking at the pre-IPO statistics.

They can give high dividends then because the no of shares pre-IPO is lower. Those are for disclosure and not really relevant after the company goes public.

Page 58 shows the pre-offering share capital of 517,760,000 shares. (I'm assuming this is pre-IPO) Am i right to use this figure?

 

[itedino]

paul: so not good to subcribe right

 

[focus1974]

I think rafflesian stock guru the hint drop big big taxi taxi ... i think he hinting transcab.
so i also thinking of punting this stock ...
just put a bid in and you might not even get it anyway..

 

[SpinFire]

I think rafflesian stock guru the hint drop big big taxi taxi ... i think he hinting transcab.
so i also thinking of punting this stock ...
just put a bid in and you might not even get it anyway..

Yeah. The public tranche is pretty small, and there're several big name cornerstone investors

 

[kwonyuri25]

Need to bid how many lots to have a gd chance of getting one lot?

 

[netbookcraze]

Pros.
1. Transport sector opening up and they might bid to operate some of the bus line. Growth opportunity.
2. The new mobile apps is going to break the on call market used to be monopolised by Comfort.

Cons.
1. Comfort may use their financial might and connections to compete fiercely with them. But I think it will be government's interest to force comfort to venture oversea and leave the local market for private players but you never know.

2. It may be pro for some and cons for the others. The founder only completed primary school education.

I can tell you that the founder is a very nice person. His love story with his wife still part of good story for old folks living in Any MO Kio, where he used to delivery gas in the 80s.

Vested.

 

[focus1974]

Need to bid how many lots to have a gd chance of getting one lot?

I donno.. i am mentally prepared to punt 168lots..
but i think i might put in 388 lots just to secure half of it?

 

[reinphd]

What is P/E? higher better right

If you're seriously asking this question, I think it should be wiser if you take a step back if you're planning to purchase..... else, investopedia may be a good place to start

 

[darkmatt]

Pros.
1. Transport sector opening up and they might bid to operate some of the bus line. Growth opportunity.
2. The new mobile apps is going to break the on call market used to be monopolised by Comfort.

Cons.
1. Comfort may use their financial might and connections to compete fiercely with them. But I think it will be government's interest to force comfort to venture oversea and leave the local market for private players but you never know.

2. It may be pro for some and cons for the others. The founder only completed primary school education.

I can tell you that the founder is a very nice person. His love story with his wife still part of good story for old folks living in Any MO Kio, where he used to delivery gas in the 80s.

Vested.

well another pro is that this company is not govt linked (fully private from the start).

some people might want the "openness"

 

[Shion]

I kind of think that the future prospects can be quite stagnant...

 

[endlssorrow]

they wann use our money to buy more cab coz coe is high... $30 million for more new cars... siao bo

 

[itedino]

they wann use our money to buy more cab coz coe is high... $30 million for more new cars... siao bo

new cab mean increase flag down. looking to hit flat down to increase to $4-4.20 range for normal cab

 

[Pocoyoz]

nav = 25.5 cents
P/B = 2.67

 

[sellbuyboy]

guys. any conclusion? seem the last few IPO all sink. willing to risk? since this one also not consider very big coy.