Yes - and no. The value reported here is the appraisal value, to which they used profits (in 2016) and a PE of 10-12 (hence the confusion and discussion with RD earlier today). So again the question boils down to what PE we should expect (as well as what the net income will be)
The PE of 10-12 is the value used by the appraisal firm, but for sure is a number one should discuss. There are several factors here; management (expect a lower PE if TRW don't get a different management than SIAF), interest rate (expect a lower PE if interest rates go up, which they will in the short term and possibly in the long term as well), growth (PE of 10-12 would be way too low if TRW is able to demonstrate decent growth also for the 2-3 years till listing), market place (HKSE vs OTC for instance) and so on.
Assuming that TRW is able to continue a nice growth and also not suffering too much turbulance of its net income, then a PE of 10-12 would be very conservative in my opinion.
What long-term goal (PPS-wise) have you set for your investment in SIAF and TRW?
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