Singapore Stock Market News

Ezion Holdings - Delayed Resurrection

StockFanatic
Publish date: Tue, 17 Apr 2018, 08:30 AM
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Ezion's successful restructuring puts it on the path to recovery, and could result in a multiples re-rating. However, valuations are highly dependent on conversions by shareholders and security holders. Current book value is closer to 15.1 S cents assuming 50% conversion by Series B security holders. Share price of S$0.197 is at a premium to that of peers who have significantly lower debts. Upgrade to HOLD and raise target price to S$0.18, pegged to 1.0x 2019F P/B. Entry price: S$0.151.
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