Hisaka: 20m new shares have been allotted and issued at an issue price of $0.51 each (6.25% premium over its last close of $0.48) and will be listed on SGX today. The TDRs will be listed on the Taiwan Stock Exchange tmr. The net proceeds of the TDRs of approx. $10.2m will be used to dev a new medical product, the Portable Blood Warmer System…
Note that the TDR shares comprise of 20m new shares and 40m vendor shares held by U9 Investment, a controlling sh/h of the company. Stock currently trades at 9X P/E. SIAS and NRA both have overweight on the stock with TP $0.58 and $0.55 respectively.
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