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Delong
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bearie
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27-Jun-2007 14:49
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What u think of this share? today up by 4 cent! Potential Take over?? M&A Activity Imminent For Delong Holdings - OCBC 0043 GMT [Dow Jones] STOCK CALL: OCBC resumes coverage of Delong Holdings (B1N.SG) at Buy with S$4.56 fair value; thinks M&A is imminent as company embarks on expansion plans. Hot-rolled steel coil producer plans to reach 10 million tons/year by 2010 from current capacity of 2.4 million tons/year. Says "recent US$200 million convertible bond issue will provide the initial financial firepower to fuel its M&A strategy." Closed down 3.2% at S$3.66 yesterday. (JEM) |
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