Worley Group listing

  1. 2,623 Posts.
    I have been given an opportunity to acquire some shares in the upcoming float of Worley Group. A short precis follows. It looks ok but I'm wondering in this market whether a p/e of 11.4 is too high??? any opinions?

    Worley is a major provider of professional services to energy and resource industry, has revenues of $500m, EBIT of $30m, 37 offices in 14 countries and employs 4300 people.

    UBS Warburg are underwriting the IPO of Worley Group.
    The float will raise approx $96m. After the issue Worley will be capitalised at about $300m, be on a PE of 11.4 times and have a fully franked dividend yield of 5%

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