Suchuang Gas launches roadshows for a Hong Kong initial public offering on Friday, hoping to benefit from rumoured national tariff reforms that should tilt the pricing advantage back from oil to gas and re-energise the sector's stock market performance.
The Jiangsu-based city gas distributor is hoping to raise HK$416 million to HK$584 million $53.6 million to $75.3 million from the 200 million new share deal, which will have a 25% freefloat. The price range has been set at HK$2.08 to HK$2.92, which equates to a forward pe range of 9.3 to 13 times earnings.
Syndicate analysts calculate that fair value for the...
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