Friday, March 2, 2007

Alert Steel debuts on the JSE

Newly listed Alert Steel targets diversified growth in construction industry.

Shares in Alert Steel Holdings Limited (Alert Steel), which listed today on Altx, began trading at 159 cents per share, a premium of 59% to the 100 cents per share price at which the shares were placed with institutions during a private placement ahead of listing.

To read the full story, visit Moneyweb.

Insitutions that participated in the private placement are already in the money. This company seems to have a solid track record and good growth prospects. However, at R1.59 and forward PE of 14, it is pricey. For traders, wait for the price to fall to R1.10 to R1.20 before getting in. For investors, wait for the next couple of sets of financial results

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