$SDCG (0321.MY)$ Solar District Cooling Group Berhad (SDCG), has filed for an IPO on the ACE Market with a listing price of RM0.38, but based on its business model and past earnings report, broking house Malacca Securities belivies a fair value of RM0.53 is deserved which is an upside of 39.5%.
The house derived its valuation by pegging a forward P/E of 27x to the FY25f EPS of 1.95 sen. We believe the forward P/E of 27x is fair, given the average P/E of the closest peers stoo...