The performance of AQRS IPO on the first day

Price
IPO:   RM 1.18
Open: RM 1.15
High:   RM 1.22
Low    RM 1.10
Close: RM 1.22

Based on the chart above, this counter not perform in the first session, from opening price of RM 1.15, below IPO price, dropped to lowest price of RM 1.10.  While for the second session, it only perform at last minute with the highest price at closing price.  For those sold in the first session must be very disappointed after seeing the closing price of today.  Overall, this counter is under performed on the first day listed to bursa main board.  Not sure isn't this counter is listed after big IPO IHH, seem like most of the people put more concentration on IHH IPO rather than this counter.  I just can said that this counter listed not on the right timing.

AQRS IPO

 AQRS 31日上市

（吉隆坡30日讯）AQRS基本上是一家建筑兼產业公司，建筑部门贡献69%盈利，以及31%盈利来自產业发展。

目前该公司手上的建筑工程订单共4亿3千430万令吉，其中2亿1千680万令吉是进行中的工程，同时该公司正投標16亿4千万令吉的工程。

预期该公司2012-13財政年每股盈利將分別萎缩7%和5.1%，因新工程合约不足和產业市场放缓。

该股合理价为99仙，相等於8倍本益比。

新股名称：AQRS
英文名称：Gabungan AQRS
股票简称：GBGAQRS
股票代號：5226
上市日期：2012年7月31日
上市组別：主板建筑组
股票面值：25仙
新股售价：1令吉18仙
合理价：99仙

资料来源：兴业研究（星洲日报／財经）

From theStar:

Gabungan AQRS secures RM141m roadworks contract

KUALA LUMPUR: Gabungan AQRS Bhd, which is set to be listed on the Main Market of Bursa Malaysia on Tuesday, had secured a RM141mil contract from the Public Works Department (PWD).

The company said on Monday its unit, Gabungan Strategik Sdn Bhd, had received a letter of acceptance from PWD for the turnkey contract involving upgrading roads in Negeri Sembilan.

"The contract will begin immediately and is expected to be completed by end-2014. It is expected to contribute positively to Gabungan AQRS' earnings for the financial year ending Dec 31, 2012 onwards," it said.

For FY ended Dec 31, 2011, the group recorded a proforma net profit of RM48.2mil on the back of revenue of RM372.4mil.

The group's recent projects included the RM110mil Seremban-Senawang federal road, the RM150mil Institut Kemahiran Belia in Kuala Langat, and 43 school blocks in Kuala Lumpur and Selangor totalling RM150.0mil.

Gabungan AQRS' on-going construction works include the RM104.6mil Puchong Perdana Interchange and the RM277.2mil Lebuhraya Damansara-Puchong extension.

More from theEdge:

Gabungan AQRS gets JKR job worth RM141 million