Asia Plus Securities has stated in the analysis on Asset World Corp Public Company Limited (AWC), indicating four reasons that make AWC an outperform shares upon its first trading day.
1) The share price is expected to close above its IPO in which the closing price will be used to reevaluate the SET50 and SET100. There is also greenshoe worth 1 billion shares to keep AWC above its IPO price at the closing.
2) Between the T+3 period, buying pressure is expected from institutional investors around 2 billion baht as well as a speculation from Active Fund.
3) An investment from Index Fund around 1.1 billion baht as AWC is a must-play stock in the Index.
4) According to the data of the IPO in the SET Index this year, every company close higher with an average return of 5.47%.
AWC has 25% of free float while another 75% has been held by Mr. Charoen Sirivadhanabhakdi and his group. Thus, 25% in the market should be the factor to hike AWC’s share price.