Bus Cap surges 80pct in three days, blows past analysts' fair values
KUALA LUMPUR: Shares of Bus Cap Bhd surged to a new high in active trade, extending a three-day advance of more than 80 per cent and pushing the newly listed bus manufacturer well past analysts' pre-listing fair values.
KUALA LUMPUR saw Bus Cap Bhd shares surge more than 80 percent in just three days, soaring far beyond analysts' pre-listing expectations. The newly listed bus manufacturer leapt as high as 47 sen, a record high, and traded over 14 million shares in the morning session. The stock opened 3.9 percent higher at 39.5 sen on Tuesday, following a 25 percent jump to 32.5 sen on Monday.
Bus Cap's three-day rally is up 80.77 percent, or 21 sen, from its close of 26 sen last Thursday. The company's shares have now doubled their initial public offering (IPO) price, just two months after its ACE Market debut on June 3. At 47 sen, Bus Cap is valued at approximately RM180.19 million, but it has no analyst coverage. RHB Research had assigned a fair value of 38 sen, indicating a 66 percent upside from its IPO price.
PublicInvest, on the other hand, valued the stock at 28 sen, suggesting a 21.7 percent potential return from the IPO price. Despite the strong performance, Bus Cap's shares are currently 23.7 percent above RHB Research's pre-listing fair value and 67.9 percent above PublicInvest's.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
