Ezra Holdings announced that with regards to its rights issue, the issue price for each rights share is S$0.105, representing a discount of 38.4% to the theoretical ex-rights price (based on last closing price on 22 Jun), on the basis of 190 rights shares for every 100 shares held by shareholders as at 22 Jun
The total number of rights shares to be issued is 1,925m.
Subject to the rights issue being approved at an EGM, the books closure date is 30 Jun, at 5pm.
The shares will trade on a “cum-rights” basis up to 5pm on 25 Jun, and will trade on an “ex-rights” basis from 9am on 26 Jun.
We currently have a HOLD rating on the stock with a cum-rights fair value estimate of S$0.32.
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Source : OCBC Investment Research
Labels: Ezra, Offshore Marine Sector