LHN 2017 stkpxLHN's stock price hit a year-high of 24c on 28 Dec 2017.
(Bloomberg chart)

The stock price of Catalist-listed LHN Limited surged to a year-high of 24 cents on Thursday (28 December) as the market acted on its new Mainboard status on the Hong Kong Stock Exchange.

Its stock has gained more than 20% year-to-date and is now trading at a trailing PE of 36.7 times.


The property management-cum-logistics service provider recently raised S$13.7 million (HK$79.8 million) via a dual-listing in Hong Kong.

KelvinLim3

LQM ffb440

 
The dual listing is a significant milestone for the Group. The strong subscription rate is the market's affirmation of our strategic direction.


- Kelvin Lim
Executive Chairman

LHN Limited

(Photo: Company Facebook)

The Hong Kong tranche, offered at HK$1.90 per share, was about 5.93 times oversubscribed. Its international offering tranche was also oversubscribed.

42 million new shares were issued, representing 10.4% of LHN's enlarged share capital.

90% was allocated to the Hong Kong tranche and 10% to the international tranche.

The dual-listed shares trade from 9 am today (29 December).

About S$4.8 million, amounting to 60.4% of its net proceeds of HK$46.5 million, will be used to acquire a property in Singapore for its space optimisation business.

LHN specializes in converting old, unused and under-utilized industrial, commercial and residential properties into thoughtfully designed and highly usable space.

Another S$1.9 million (23.9% of net proceeds) will be used to purchase a parking yard in Singapore for its logistics business.

Stock price 

24 c

52-week range

16.1 – 24 c

PE 

36.7

Market cap

S$84.7 m

Average Vol. (30-day)

807,913

Dividend 
yield

0.85%

Year-to-date return

22.6%

Source: Bloomberg

The Group owns a fleet of prime movers, road tankers and trailers for transporting mainly ISO tanks, containers, base oil and bitumen between ports, bulk liquid loading terminals.

Its logistics customers are primarily oil majors, overseas ISO tank operators, freight forwarders and chemical traders.

The remaining 15.7% will be used for its foray into China, acquisition of transportation vehicles for its logistics business, and as general working capital.

You may also be interested in:


You have no rights to post comments

Counter NameLastChange
AEM Holdings2.750-0.010
Avi-Tech Electronics0.265-
Best World1.8200.020
Broadway Ind0.0890.003
China Sunsine0.380-0.010
ComfortDelGro1.380-0.010
Delfi Limited1.050-
Food Empire1.4400.020
Fortress Minerals0.270-
Geo Energy Res0.4050.015
GSS Energy0.027-
Hong Leong Finance2.500-0.060
Hongkong Land (USD)3.250-0.020
InnoTek0.4450.010
ISDN Holdings0.330-0.010
ISOTeam0.035-
IX Biopharma0.041-
Jiutian Chemical0.025-
KSH Holdings0.250-
Leader Env0.050-
Medtecs Intl0.133-0.002
Nordic Group0.345-
Oxley Holdings0.093-
REX International0.118-0.003
Riverstone0.725-0.020
Sinostar PEC0.137-
Southern Alliance Mining0.600-0.005
Straco Corp.0.505-0.010
Sunpower Group0.215-
The Trendlines0.084-0.001
Totm Technologies0.023-0.001
Uni-Asia Group0.840-
Wilmar Intl3.370-0.020
Yangzijiang Shipbldg1.6900.030
 

We have 3406 guests and no members online

rss_2 NextInsight - Latest News