LOST IN TRANSLATION
- From: Vol 11, Issue 5 (May 2010)
- Category: Need to know
- Region: Asia
- Country: China
The Chinese water sector continues to throw up improbable valuations. In March, we saw Chongqing Water attract a valuation of 21 x revenues at its IPO.
* Last month, it was Origin Water's turn to dumbfound GWI. Its shares more than doubled in value to deliver a market capitalisation of $3.3 billion at the end of the first day of trading on the Shenzhen Stock Exchange. The figure represents 72 x 2009 revenues, or a P/E ratio of 95. The company manufactures membranes and ...
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