CVS 12.5% 0.9¢ cervantes corporation limited

Exciting New Seafood Float To Follow SSS?

  1. 30 Posts.

    Cervantes Seafood (CVS) is aiming to follow in the foot
    steps of Sams Seafood (SSS) which moved from a $1.00 issue price to $5.00 recently. CVS are aiming to service the booming Asian market for WA rock lobster, and due to the issue being relatively small retail demand
    for the float has been overwhelming (oversubscribed). The fisheries department have forecast two bumper seasons of lobster catches, and are able to predict within 2.3% of the actual catch. The company on forecast earnings is expected to list with a PE sub 10x, whilst SSS PE is listed at 65x.
    The company lists at 1.00pm ESDST, and has listed options CVSO.

    Any view are welcome?

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