WELLCHIP to Launch: Predict Opening Day Price Fluctuations
Hi Mooers! The WELLCHIP official opening is just around the corner, what's your take on this? 🤔
Well Chip Group Berhad is a Malaysian company specializing in pawnbroking services, as well as jewelry retail and trading. According to its draft prospectus, the company plans to issue 150 million new shares, representing 25% of the enlarged share capital. Of these, 30 million shares will be allocated for public subscription, 45 million shares are set aside for private placement to institutional and selected investors, and 75 million shares will be made available through private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
WELLCHIP is expected to officially list on July 23, 2024. Do you have a positive outlook on its future development?
Participate in the event, guess the rise or fall of WELLCHIP's closing price on its first day of listing!
🎁 Participate in the vote below, predict the rise or fall of the WELLCHIP's closing price on its first day of trading. Those Mooers who guess correctly will share a pot of 3000 points.
🎁Highlight Reviews Award (10 people): Sharing more than 30 words of stock price forecast analysis will get an additional 88 points.
Event Time: 19 July 2024, 16:00 PM – 23 July 2024, 3:00 PM
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mr_cashcow : Here is an analysis of Well Chip Group:
IPO of Well Chip Group Berhad has been oversubscribed by 12.87 times, indicating significant investor interest in the company
Well Chip Group Berhad has recorded a net profit of RM11.9mil for the first quarter ended March 31, 2024, representing decent profits
The company's revenue for the same period stood at RM54.8mil
Well Chip Group Berhad is set to be listed on the Main Market of Bursa Malaysia on July 23 2024
It operates 23 pawnshops in Johor and plans to expand its operations by opening five new pawnshops in Johor and two new pawnshops in Melaka
Offer price for Well Chip Group Berhad's IPO is set at RM1.15 per share
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Disclaimer: All the above are purely for educational purposes and are NOT financial advise, please DYOR/DD
musang queen : The company's compound annual growth rate (CAGR) for the 2023-2026 fiscal year will reach 16%, while the loan amount for fiscal year 2023 is RM0.9 billion90.6 million.
Regarding net profit forecasting and valuation, analysts believe that the company's core net profit for the 2024 fiscal year could reach RM44.8 million, an increase of 27% over the previous year.
Analysts said that with the completion of the listing, it is believed that popularity will increase to a certain extent. At the same time, pawnshop loans will continue to grow strongly, increase cash capital, and steady expansion, etc., which will drive the company to strengthen.
102362254 : WELLCHIP's IPO launch is expected to see major price fluctuations. Market excitement and investor demand could probably drive the price up to RM2.50 or more, with potential volatility as traders react to initial performance. I’m guessing it will soar.