Should i buy this IPO
There was an update from moomoo that the ipo subcription would close at 7pm today.
After reading the final offer document on the risk factor part. I get a little worry about the company abilitity to continue to sustain their operation if all the risk were to come true.
About the dividends policy
It would like to quote on page 62 “our Board intends to recommend dividends of not less than 20% of our net profit after tax attributable to our Shareholders in each of FY2023 and FY2024 (collectively, the “Proposed Dividend”). However, investors should note that the foregoing statements, including the statement on the Proposed Dividend, are merely statements of our present intention and shall not constitute legally binding obligations on our Company or legally binding statements in respect of our future dividends (including those proposed for FY2023 and FY2024), which may be subject to modification (including reduction or non-declaration thereof) at our Directors’ sole and absolute discretion. As we do not have a fixed dividend policy, investors should not treat the Proposed Dividend as an indication of our future dividend policy.”
The profit after tax for FY2022 is $22407. So paying at least 20% of it for their dividend. I dun think the payout will even be great.
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