- We stay positive on ISOTeam’s long-term prospects as Singapore’s construction sector recovers. Although ISOTeam's share price may adjust downwards in the near term from the newly proposed rights issuance, additional funds will enable it to take on more contracts that will add to long-term growth.
- - Read this at SGinvestors.io -
Renounceable non-underwritten 1-for-1 rights issue announced by ISOTeam
- ISOTeam (SGX:5WF) is raising funds via a rights issuance that will raise between S$19,000 and S$10.3m in net proceeds – depending on the take-up rate. Funds will be used for general working capital (70%) and repayment of banking facilities (30%). Shareholders can subscribe for additional shares at S$0.03 per rights share. This works out to a theoretical post-rights share price of between S$0.076 (minimally subscribed) and S$0.053 (fully subscribed).
- - Read this at SGinvestors.io -
- Executive Chairman Ng Cheng Lian, Executive Director & Chief Executive Officer Koh Thong Huat, Executive Director Foo Joon Lye, and their investment vehicle – ADD Investment Holding (which holds a substantial stake in ISOTeam) – have all undertaken to subscribe in their share of rights.
Fundamentals and valuations should not change.
- Read more at SGinvestors.io.
Alfie Yeo RHB Securities Research | https://www.rhbgroup.com/ 2023-06-27
Read also RHB's most recent report:
2024-02-08 ISOTeam - Earnings Turnaround Taking Shape; Maintain BUY.
Previous report by RHB:
2023-09-29 ISOTeam - Earnings Turnaround In Play; Keep BUY.
Price targets by other brokers at ISOTeam Target Prices.
Listing of research reports at ISOTeam Analyst Reports.
Relevant links:
ISOTeam Share Price History,
ISOTeam Announcements,
ISOTeam Dividends & Corporate Actions,
ISOTeam News Articles
