PNE Micron

PNE Micron: Members of the controlling Tan family, who own an aggregate 42.7% stake in PNE Micron, will sell 162m shares (29.2%) at $0.065/share, 20% above the current price of $0.054. The buyers, Liew Nyok Wah and Di Lingbin, are business associates, and will join as new substantial shareholders with 11.2% and 18.0% stakes, respectively. The market may view the latest deal price as a reference for PNE’s fair value. At $0.054, the printed circuit boards manufacturer is valued at 1.4x P/B.