Origin Water’s stock pot boils over
- From: Vol 11, Issue 5 (May 2010)
- Category: General
- Region: Asia
- Country: China
- Related Companies: Beijing Origin Water
The IPO of Beijing Origin Water broke records when it priced at the end of April, but do the facts support the wild outperformance? GWI’s Kathy Liu asks whether the herd mentality is always right.
Beijing Origin Water Technology's spectacular IPO on 21 April saw the company's share price more than double during the first day's trading, from the issue price of RMB69 ($10.09) to RMB152 ($22.23). This valued the company’s equity at an astounding RMB22.3 billion ($3.3 billion), equivalent to 72 times 2009 revenues.
It is ...
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