Comeback sunny side up

Largest poulty player: An analyst says the 16 times valuation for Leong Hup is reasonable and quite fair.

AMONG the biggest and most awaited initial public offerings (IPOs) this year, Leong Hup International Bhd is likely to be valued at around 16 times its forward earnings – significantly lower than the figure initially rumoured, according to sources.

Back in February 2017, when news that the company planned to make a comeback to Bursa Malaysia surfaced, there were reports that the company was looking to enter the market at close to 30 times forward earnings.