KUALA LUMPUR: Shares of Berjaya Food opened at 53.5 sen or 2.5 sen above its offer price of 51 sen when it made its debut on the Main market of Bursa Malaysia on Tuesday, March 8.
At 9am, it was up two sen to 53 sen with 1.54 million shares done.
The FBM KLCI rose 3.37 points to 1,519.11. Turnover was 13.63 million shares valued at RM9.63 million. There were 51 gainers, 13 losers and 62 stocks unchanged.
OSK Research values BFood at 57 sen a share, based on 7.5 times FY11 earnings per share. BFood registered five-year sales and net profit CAGR of 22% and 46.1% from FY2006-FY2010 respectively, driven mainly by new outlets and higher selling prices, said the research house.
Its subsidiary Berjaya Roasters develops and operates the Kenny Rogers Roasters chain of restaurants in Malaysia.
Source: The Edge, 8 March 2011
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