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OCBC Investment Research 2015-07-07: Ezion Holdings - Invests in Rotating Offshore Solutions. Maintain BUY.

Ezion Holdings: Invests in Rotating Offshore Solutions 

  • Ezion Holdings announced that it has entered into a subscription agreement with Rotating Offshore Solutions Pte Ltd (ROS) in which it will subscribe for 321,429 shares in ROS for a consideration of S$18m. 
  • The shares will constitute 30% of the enlarged share capital after completion. In satisfaction of the subscription consideration, Ezion will issue 17.5m shares at an issue price of S$1.0287. 
  • This represents approx 1.09% of the enlarged issued share capital of the Ezion. 
  • ROS is headquartered in Singapore and is an engineering solution provider for the offshore oil and gas industry. 
  • Pending more details from management, we maintain our BUY rating and fair value estimate of S$1.55 on Ezion. 

(Low Pei Han)

Source: http://www.ocbcresearch.com/




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