CGS valuation.
The IPO price of rm0.28 (rm226m market capitalisation) values sum technology at a core FY25 earnings of 17.6 PE -118% PREMIUM to the peer average FY25 P/E of 8.1x comprising Critical holding (rm349m market capitalisation 13.4P/E) and events group holding (rm220m market capitalisation 2.8P/E... Latest P/E for sumtech is 21x..middle/average PE 20x..so sumtech a bit premium..maybe open 0.26-0.30