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Mistras IPO looks interesting

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(Update 22Oct09) SEC filing 424B4.

(Original) I talked about Mistras (NYSE:MG) IPO briefly the other day. Today I read this “MatlinPatterson Global Sells $3M Worth of Huntsman“. And in this news I saw some insiders of Mistras bought some shares in IPO:

Mistras Group (MG) Stamatakis Manuel N DIR 6,000 $75,000
Mistras Group (MG) Peterik Paul CFO 2,000 $25,000

They paid about $12.50 per share (IPO price). Very interesting. For most IPO shares “It’s Probably Overpriced”. But this one seems quite reasonable. After IPO, its market cap is about $300 m, with revenue of about $200 m. The income and earning per share number is eschewed because the company paid quite some preferred share dividend recently. I need to read whether those preferred shares will be converted.


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