Ezion: (S$0.26) Substantial shareholder pares stake below key 5% mark- Wholly owned subsidiary of Commonwealth Bank of Australia, First State Investments (FSI), sold 3m shares for client funds at $0.29 apiece on 17 Aug, reducing its stake from 5% to 4.86% and ceased to be a substantial shareholder.
- This could be a negative signal for investors given that future stake par down(s) by FSI is/are no longer required to be disclosed under SGX rulings.
- Share price of Ezion has taken a beating since oil price tumbled in 3Q14.- However, counter remains one of the favourites in the O&G sector due to its relatively stronger balance sheet.
- Bloomberg consensus has 7 Buy and 4 Hold ratings with average 12-month TP of $0.37.
No comments:
Post a Comment