Scientech Corp. code # 3583 on EMS. Yesterday reported that they will be listing on the major exchange at a price of NT$32 in early March. They are makers of wet wafers and have a market cap of US$119 million. They first listed on EMS April 24Th 2012 at a price of NT $28.20. Yesterday they announced the listing and the stock was up NT$ 6 and closed at NT$47.50.Their P/E at NT$47.50 based on 12 months trailing earnings is 39 times. My take on this action is much what I have seen with many new listing on the major exchange from the EMS. The stocks are very illiguid on the EMS but most of the new listing moves have been up 20-50% on the first trading day . I think that who ever bought these shares yesterday( volume yesterday 1.2 million shares VS last 30 days average 250,000 shares) beleives that the EMS pricing has been really discounted to the real value and the stock will pop over the NT$47.50 price in the very near future.
Caff- great information about EMS. As usual this thread is outstanding. Infromation available here and no where else. I will have to keep my posts very brief as I want to read what I have just written. Again- great post , Caff.
We might have to sit and sit, and wait and wait. Eventually we will get paid big time. Still, at these levels IMOS management should be retiring shares via a buyback. Simply no good reason not to do so.