Hu An: Co will undertake second TDR programme by issuing 70m new shares to underlie 56m TDRs and convert 70m existing shares to underlie 56m TDRs to be listed on the TSE (1 TDR:1.25 shares). This programme will take into account the new shares issued on 11 May 2011 and is intended to be open to all shareholders whose registered addresses are in Sg…
Co will use part of proceeds to repay outstanding bank loans and allow shareholders to enhance returns given TDRs are trading at a 43.5% premium in Taiwan. Hu An has been rallying during the past mth bucking the general mkt trend and last traded at $0.39. Stock is in current uptrend but MACD and Stochastics show a possible retracement. Support at 200-day MA $0.38.
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