Bursa Malaysia Stock Watch
OSK ups target price for Southern Steel
kltrader
Publish date: Mon, 19 Jul 2010, 01:14 PM
kltrader
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OSK is revising upwards its target price for Southern Steel to RM2.05 to match the mandatory general offer price.
Signaland SB, a SPV linked to Tan Sri Quek Leng Chan, has announced a mandatory general offer (MGO) to acquire all the remaining ordinary RM1 shares in Southern Steel that it and related parties does not already own for RM2.05 apiece.
With the share price having surged close to the offer price in trading last Friday, the offeror is also unlikely to revise upwards its offer price.
'This, including the gloomy industry outlook for 2H, prompts us to keep our neutral recommendation on Southern Steel,' OSK said.
Meanwhile, HwangDBS has a 'hold' recommendation on Southern Steel.
Signaland SB, a SPV linked to Tan Sri Quek Leng Chan, has announced a mandatory general offer (MGO) to acquire all the remaining ordinary RM1 shares in Southern Steel that it and related parties does not already own for RM2.05 apiece.
With the share price having surged close to the offer price in trading last Friday, the offeror is also unlikely to revise upwards its offer price.
'This, including the gloomy industry outlook for 2H, prompts us to keep our neutral recommendation on Southern Steel,' OSK said.
Meanwhile, HwangDBS has a 'hold' recommendation on Southern Steel.
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