Stock Name: Sarin
Company Name: SARIN TECHNOLOGIES LTD
Maybank Kim Eng Research in a May 24 research report says: "Sarin announced a proposed 1-for-4 bonus share issue on 6 May 2012. The proposed issue received in-principle approval from the Singapore Exchange on 14 May 2012. "Further to this, Sarin also announced the books closure date for the bonus share issue to be on 24 May 2012. The existing share capital of the company comprised of 271,656,904 shares (including 1,689,000 treasury shares). Up to 67,914,226 new bonus shares will be issued which will increase the total number of shares to 339,571,130. "We adjust our target price accordingly for the bonus shares. Based on the enlarged number of shares, our target price would now be $1.82, still pegged to 16x FY12F PER. We also made adjustments to the per share figures. MAINTAIN BUY
Company Name: SARIN TECHNOLOGIES LTD
| Research House: Maybank Kim Eng | Price Call: BUY | Target Price: 1.82 |
Maybank Kim Eng Research in a May 24 research report says: "Sarin announced a proposed 1-for-4 bonus share issue on 6 May 2012. The proposed issue received in-principle approval from the Singapore Exchange on 14 May 2012. "Further to this, Sarin also announced the books closure date for the bonus share issue to be on 24 May 2012. The existing share capital of the company comprised of 271,656,904 shares (including 1,689,000 treasury shares). Up to 67,914,226 new bonus shares will be issued which will increase the total number of shares to 339,571,130. "We adjust our target price accordingly for the bonus shares. Based on the enlarged number of shares, our target price would now be $1.82, still pegged to 16x FY12F PER. We also made adjustments to the per share figures. MAINTAIN BUY
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