PETALING JAYA: Kumpulan Kitacon Bhd
’s stock price has been assigned a fair value of 96 sen by PublicInvest Research, translating into a 41% premium over the initial public offering (IPO) price of 68 sen per share.
In a note, the research unit said the fair value of 96 sen for the construction group is based on an eight times price-earnings (PE) multiple to Kitacon’s financial year ending Dec 31, 2023 (FY23) estimated earnings per share of 12 sen.
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