Osim International: Gaps up at open, now 4.1% at $1.53, highest since Dec06. Gains come after massage chair manufacturer proposes TDR listing, which says will help diversify shareholder base, provide another fund-raising platform; company to release Treasury shares, so no dilutive impact….
DMG quote ‘We are excited over the proposed TDR listing as it may signal a bumper dividend to existing shareholders or some form of M&A in the pipeline.’ Broker maintains Buy rating and raises TP to $1.66 vs $1.57, pegged to 18X P/E. Orderbook suggests upside from here likely limited, $1.55 intraday high may cap.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment