Stock Name: Biosensors
Company Name: BIOSENSORS INT'L GROUP, LTD.
Nomura Research in a Dec 1 research report says: "Biosensors announced that Shangdong Weigao has converted its US$120 million 4% Convertible Notes into shares of Biosensors. The conversion will raise Shangdong Weigao's stake in Biosensors from 16.2% to 21.6%, effectively converting the notes at a price of $1.40.
"Biosensors's equity capital will rise further following the conversion of the notes and save an annual interest cost of US$4.8 million per year. Our SOTP-based target price of $1.70 has 24% implied upside, supported by 12.5x FY13F P/E on EPS growth of 36.0% over FY2012F-FY2013F. Target price of $1.70. MAINTAIN BUY."
Company Name: BIOSENSORS INT'L GROUP, LTD.
| Research House: Nomura | Price Call: BUY | Target Price: 1.70 |
Nomura Research in a Dec 1 research report says: "Biosensors announced that Shangdong Weigao has converted its US$120 million 4% Convertible Notes into shares of Biosensors. The conversion will raise Shangdong Weigao's stake in Biosensors from 16.2% to 21.6%, effectively converting the notes at a price of $1.40.
"Biosensors's equity capital will rise further following the conversion of the notes and save an annual interest cost of US$4.8 million per year. Our SOTP-based target price of $1.70 has 24% implied upside, supported by 12.5x FY13F P/E on EPS growth of 36.0% over FY2012F-FY2013F. Target price of $1.70. MAINTAIN BUY."
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