Stock Name: Noble Grp
Company Name: NOBLE GROUP LIMITED
DBS Vickers Securities in an Oct 5 research report says: "The Investor Daily newspaper today reported that Noble Group is prepared to subscribe for up to 15% of Atlas Resources when it goes public.
"Noble Group had provided a loan to Atlas Resources on Apr 27, and the contract has an option to convert this into a 10.1% stake in the company; post listing Noble's stake would be diluted to 7%. We believe this potential arrangement would add value to Noble.
"Besides additional associate income, the group would be able to recycle its capital as well as get US$25 million cash by becoming a marketing agent, which we believe may fetch c.4% commission. Target price of $1.70. MAINTAIN BUY."
Company Name: NOBLE GROUP LIMITED
| Research House: DBS Vickers | Price Call: BUY | Target Price: 1.70 |
DBS Vickers Securities in an Oct 5 research report says: "The Investor Daily newspaper today reported that Noble Group is prepared to subscribe for up to 15% of Atlas Resources when it goes public.
"Noble Group had provided a loan to Atlas Resources on Apr 27, and the contract has an option to convert this into a 10.1% stake in the company; post listing Noble's stake would be diluted to 7%. We believe this potential arrangement would add value to Noble.
"Besides additional associate income, the group would be able to recycle its capital as well as get US$25 million cash by becoming a marketing agent, which we believe may fetch c.4% commission. Target price of $1.70. MAINTAIN BUY."
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