Innovalues: (S$0.97) Surged 9%; management reviewing options
- Management appointed Rippledot Capital Advisers to conduct a review of strategic options to unlock shareholder value.
- Coincidentally, all four brokerages that have coverage on Innovalues cited that the precision parts manufacturer is an ideal M&A target given its favourable position within the auto supply chain.
- This follows recent M&A activity for SGX-listed Interplex and HK-listed IPE since Dec '15. In addition to being in the same space, Maybank KE cited that Innovalues’ operating and financial metrics are superior.
- Maybank KE's last rating on Innovalues was a Buy with TP of $1.00.
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