Nanfang Bearing is Going Public on Friday with Average Target listing Price 18.62 Yuan

Resource from: CBCC Likes:3133

Feb 24,2011

Feburary 24th,2011 The Nanfang Bearing will be listed in medium and small boards on Friday (Feburary 25th). According to the statistic of the four brokers gathered by Quanjing.com, its average listing price is 18.62 yuan which is 9.5% higher compared to the issue price. The TX Investment Consulting which provides the upper limit forecast considers that the needle roller bearing for automobile is becoming the main growth point. It is estimated the needle roller bearings will up to 468 million sets by 2012. It is also anticipated that the EPS this year wil be 0.67 yuan and the reasonable price will range from18.76 yuan to 21.44 yuan. Guoyuan Securities which predicts the lower limit points the output of needle roller bearing has been ranked No.1 among the industry for several years while the overriding clutch ranks No. three. It is estimated that the company’s earnings per share is 0.86 yuan and the value range is between 14.3 and 17.55 yuan. The issue price of Nanfang Bearing is 17 yuan which is 60.71 times as much as P/E.

(CBCC)

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