Airasia X IPO

When parent Airasia listed on Bursamalaysia, the public portion was priced at RM1.16 and institutional portion at RM1.26. Now wit Airasia X it seems the retail portion will be RM1.45.... which gives it a PE of about 14X??

To have a successful IPO, you need the pricing to be right, so it needs to mirror other successful IPOs like Tiger Airways which was priced at 12.6X PER. And this IPO of AAX has no 'cornerstone investors', instead relying on the public not to sell their shares from the IPO by dangling a 'free ticket if hold the shares for >1year after IPO'

It doesn't seem 'right', another Facebook??

That being the case, we might creat our own 'post IPO' swooping like vultures to pick up the remains of the carnage, in much the same way like UOADev, Astro, Facebook, rather than subscribing to the IPO...