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Aemulus surges in active trade on debut
by Cals Tue 15 Sep 2015, 18:46
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[size=28]Aemulus surges in active trade on debut
By Surin Murugiah / theedgemarkets.com | September 15, 2015 : 9:21 AM MYTKUALA LUMPUR (Sept 15): Newly-listed Aemulus Holdings Bhd surged in active trade this morning upon its debut on the ACE Market of Bursa Malaysia.
At 9.01am, Aemulus jumped 37.5% or 10.5 sen to 38.5 sen with 11.4 million shares traded.
AffinHwang Capital Research yesterday initiated coverage on Aemulus with a “Buy” rating and target price of 37 sen and said that as a rapidly growing Automated Test Equipment (ATE) player, Aemulus has carved its niche in the radio frequency (RF) space.
The research house said Aemulus’s next big leap will be fuelled by its data centre storage testers, as growth in cloud computing and the Internet of Things (IOT) accelerates.
“We initiate coverage on Aemulus, which is seeking a listing on the Ace market, with a Buy rating and a 12-month TP of 37 sen by pegging it to 10x CY16EPS.
“This represents circa 32% upside to the IPO price of 28 sen,” it said.
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