Long awaited Maxis listing in the Bursa Malaysia at last realized on today by closing at RM5.42, a premium of 42 sen versus its offering to institutional investor of RM5.00 and RM4.75 for retail buyers.
The success of the listing of Maxis will definately boost the malaysian stock market and based on maxis closing price today at RM5.42, it will be the 4th largest capital company in the malaysia stock market with market value over 40billion ringgit.
The ranking would be Sime, maybank, cimb followed by maxis. This signifies that maxis is the largest telco in Malaysia by far. This put Digi, Axiata far behind.
The dividend policy of maxis is 80% of profit. It is forecast that EPS would be 30sen, that means it would have 24 sen payout divedend which equal to 4.42% divedend yield which is better than bank's FD rate.
I recommend a long term buy for this stock, target price at RM6.00. This is based on divendend yield of 24 sen or 4%
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