Yeebo to seek $170m in flotation

YEEBO (International Holdings) will raise $170.6 million by issuing 113.75 million shares at $1.50 each.

The shares will represent 25 per cent of its enlarged issued capital and give the company a market capitalisation of $682.5 million.

Yeebo develops, manufactures and sells liquid-crystal displays (LCD), which are used in a variety of consumer electronic products such as calculators, watches, clocks, hand-held games, data-banks and pagers. It also makes printed circuit boards.

The company's directors expect a profit after taxation of not less than $78 million for the year to March 31.

Yeebo's prospective earnings per share are 19.1 cents, giving it a price-earnings multiple of 7.9 times.

The prospective final dividend for the year is six cents a share with a dividend yield of six per cent.

For the last fiscal year, Yeebo posted profits of $43.3 million.