CentraLand: Follow up - Shares down 8.7% at $0.42, giving yesterday's 9.5% gain, with mkt hardly paying heed to Warburg $128 million investment in co’s projects. Traders note that historically low trading liquidity in grp shares; made it hard for investors to get excited over the investments…...
Since listing in Feb 2008, stock still trading below its $0.50 IPO price, not helped by slew of China housing-market curbs in past months. Orderbook quotes suggest support at $0.40. We note that valuations for the counter appears rich, currently trading at 3.1X PB vs Debao Pty of 1.1X & ChinaNTown at 1.2X.
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