Brokers' take

Acromec | Subscribe

IPO price: S$0.22

Target price: None

Phillip Securities Research, April 13

Homegrown engineering services provider with a good track record and portfolio of renowned clients in the healthcare, biomedical, research and electronics sector.

Focus of company to be on healthcare and biomedical/research sectors locally, sectors where the government has committed substantial funds to develop.

Acromec has zero debt, stable margins, positive operating cash flows, and a high return on equity (42.2 per cent in FY15). Post-IPO, Acromec trades at a histori…