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The melt down was caused by panic traders who were caught at near limit up price and triggers a chain effect where traders sell down each bids to clear off their position. I believe the price will stand above 0.8 on Wednesday 21 July 2021 again as the VWAP is RM 0.766 !
Worth to take note that total number of share is about 223 mil, where the directors and substantial holders already control about 70 - 80% and public floating is about 5% ! Limited supply in the market ... Ultimately will go above 1.00 and free warrant
Rakuten give the target price RM0.81, based on 17x PER FY22 as per the average valuation of software related players.
RHB give a target price of RM0.8. Mercury is RM0.79. I believe the prospects are very optimistic based on recent fund briefing , effecting operating profit, CAGR , effective operating profit growth rate and also ROE, effective profit margin .
Another positive commitment from Directors and shareholders. They are subject and voluntary moratorium for a period of 12 months from the listing date.
Post IPO, Ramssol would be in net cash position of RM 24.6 mil... Take note on the target price of Public Invest Research , TA securities , RHB , Malacca Securities etc... Ramssol Key customer include Capital land, RHB, Capital land Singapore, National University of Singapore, Pramount, Thai Food Group , Export import bank of Thailand, Top-glove. As of May 24 2021, the total secured orders are RM 51.52 mil