Agung Podomoro Land (APLN) - Property Business Integration

New IPO – Agung Podomoro Land (APLN) – Speculative Buy
Property business integration

  • Agung Podomoro as an integrated property business,
  • Net gearing will decrease to 0.16x-0.24x vs 1.05x pre IPO
  • NAV is Rp678-688, it means IPO price discount 35-48% to NAV
  • Offer price translation P/E’10 20.2x – 25.9x vs sector 21.8x