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VALIATION OF MAHKOTA GROUP (MGRO) SHARES IS APPRAISED ATTRACTIVE, THIS IS THE REASON

13 July 2018

Bisnis.com, JAKARTA - Plantation issuer PT Mahkota Group Tbk (MGRO) is projected to have an attractive stock valuation in line with projected performance improvements in 2019.

On Thursday (07/12/2018), MGRO officially became the 28th issuer in 2018 on the Indonesia Stock Exchange (IDX). The company released 703.68 million new shares at an exercise price of IDR 225. This means that the company earned IDR 158.33 billion.

Prama Nugraha, Director of Investment Banking of PT Panin Sekuritas Tbk, said that MGRO had conducted a public offering on July 3-9, 2018 with a price range of IDR 200-250 per share.

“From the results of the poll, there is a lot of investor demand at the price of IDR 225, so we set the price so that there will be more demand,” he said at the IDX Building.

Panin Sekuritas is the underwriter of the MGRO IPO. The share subscription of this garden issuer was oversubscribed 2 times the total shares offered.

According to Prama, the majority of MGRO investors are the retail segment. In terms of geography, most investors come from North Sumatra, in accordance with the main location of the company's business.

He added, MGRO shares are considered quite attractive. With an IPO price of IDR 225. estimated price to earning ratio (PER) in 2019 around 7x. This is in accordance with the projected performance improvement next year along with the completion of the refinery plant development.

​On Thursday (12/7/2018) trading, MGRO shares immediately shot up 112 points or 49.56% so that it was exposed to auto reject on PER reaching 84.50 x with a market capitalization of IDR 1.19 trillion.

Source : http://market.bisnis.com/read/20180712/192/816138/valuasi-saham-mahkota-group-mgro-dinilai-menarik-ini-alasannya