Drecom IPO update February 12, 2006
Posted by fukumimi in IPO, IT, Japan.trackback
Drecom, the Japanese blog and search advertising firm IPO’d on the MOTHERS exchange on the 9th.
Just 2000 shares were offered, at a price of JPY760,000. Currently the share price is at JPY3.15million having reached maximum allowable single day gains on the first two days of trading.
The current share price values the company at more than $600M, with a PER of more than 500.
Financials for the year ending March 2005 were net profits of approx $0.5M on sales of approx $2.5M.
Crazy PERs are not uncommon on the emerging market exchanges in Japan, but this takes the biscuit.
Enjoying your new blog- please keep it up!
This Drecom IPO is insanity- signs of a mini-bubble.
Hi Gen, it is a pleasure to make your acquaintance.
Drecom’s up at JPY4.97M a share today. Up more than 11% today alone.
Keep this up, and we’ll hit a PER of 1000 in a few days.
Current valuation of the company is pushing $1B, (currently at JPY98.3B)….