Subscribe to Softlogic IPO, says John Keells Stock Brokers

Monday, 6 June 2011 00:00 - - {{hitsCtrl.values.hits}}

John Keells Stock Brokers (JKSB) is recommending the Softlogic Holdings Ltd.’s Rs. 4 billion IPO as ‘subscribe.’ “At an issue price of Rs. 29, the counter trades at a P/Ex of 12.9x FY12E and 8.6x FY13E earnings which is a discount to peers despite offering superior near term earnings growth rates and exhibiting higher returns on equity. We recommend SUBSCRIBE,” JKSB said in a Research publication. Here are excerpts: