Q&M Dental: +3.1% at $0.82 on strong volume, extending yday’s 8.9% gain. Sias issues technical Buy call, notes if current support levels of $0.75 – 0.80 hold, the stock could rise to its next upside objective at $0.90. Says yday’s long white candle accompanied by high volume signals the bulls have gained control. Believes upward momentum is strengthening, evidenced by MACD, Stochastic and RSI trending higher...
Says the longer term outlook is positive as well, with the share price trading above the key moving averages.
The co last week announced the entry of International Finance Corporation (IFC) as a strategic investor. Accordingly, IFC will provide a US$10m senior loan and a US$5m convertible loan to the company. The latter is convertible at a price of $0.69 per share and both loans are subjected to an interest rate of LIBOR + 2.8%...
The loan agreements and the remaining proceeds from the IPO (~S$9m) will help to finance Q&M’s expansion needs in Spore and China.
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