Wednesday, February 20, 2013

Yamada Green Resources

Yamada Green Resources: Likely positive sentiment after ‘Popiah King’ SAM GOI takes a stake in the Co. Yamada will place out 82.2m new shares (16.49%) to Hydrex International (a SPV wholly owned by Sam Goi) at $0.119/share. The net proceeds of $9.4m, will be used to fund the future acquisition and expansion of the Co, as well as general working capital. Recall, peers China MinZhong and Sino Grandness share price surged few days back after Indofood Sukses Makmur took a stake in China MinZhong. Yamada’s share price have however been muted in recent wks. At current price, grp trades at just 2x P/E.

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