Stock Name: HISAKA
Company Name: HISAKA HOLDINGS LTD.
SIAS Research in a June 21 research report says: "Hisaka Holdings Ltd's (Hisaka) TDRs will start trading on this Friday 24 June 2011, following the completion of its book building exercise. Response was relatively strong with the TDRs going at NT$11.90 or 3.5% above the midpoint of the indicated range of NT$10.50 to NT$12.50.
"At the equivalent of 51 cents, the TDRs were priced at a >7% premium above its previous close of 47.5 cents. Inputing the new data into our model, we arrived at an updated intrinsic value of 58.1 cents versus 57.8 cents previously.
"By securing a high issue price, Hisaka had minimised the dilutive impact of the exercise to existing shareholders, while raising funds to develop its new product - the portable blood warmer system. MAINTAIN INCREASE EXPOSURE."
Company Name: HISAKA HOLDINGS LTD.
| Research House: SIAS | Price Call: BUY | Target Price: 0.581 |
SIAS Research in a June 21 research report says: "Hisaka Holdings Ltd's (Hisaka) TDRs will start trading on this Friday 24 June 2011, following the completion of its book building exercise. Response was relatively strong with the TDRs going at NT$11.90 or 3.5% above the midpoint of the indicated range of NT$10.50 to NT$12.50.
"At the equivalent of 51 cents, the TDRs were priced at a >7% premium above its previous close of 47.5 cents. Inputing the new data into our model, we arrived at an updated intrinsic value of 58.1 cents versus 57.8 cents previously.
"By securing a high issue price, Hisaka had minimised the dilutive impact of the exercise to existing shareholders, while raising funds to develop its new product - the portable blood warmer system. MAINTAIN INCREASE EXPOSURE."
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