Singapore Stock Market News

Libra Group - Loaded For Expansion

StockFanatic
Publish date: Wed, 01 Oct 2014, 10:31 PM
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Libra Group announced on 26 Sept that it is placing out 15m shares at SGD0.20 per share to raise a total of SGD3m. This would enable it to potentially make acquisitions to further expand the scale of its business, as well as undertake larger projects that require more capital. In addition, this may help to partially fund the renovation of and payments for its new facility.

Maintain BUY, as our TP falls to SGD0.27 from SGD0.31 from the share dilution.
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