Home Capital Broker's Calls

CGS-CIMB downgrades Penguin to 'hold' on potential privatisation

Felicia Tan
Felicia Tan2/16/2021 11:17 AM GMT+08  • 2 min read
CGS-CIMB downgrades Penguin to 'hold' on potential privatisation
CGS-CIMB's analyst See has upped Penguin's target price to 65 cents, as "we think most eyes will be on a potential privatisation.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

CGS-CIMB Research analyst Cezzane See has downgraded Penguin International to “hold” from “add” on its potential privatisation.

“We like Penguin as it is profitable, relatively cheap vs. domestic peers and in a net cash position. As we think most eyes will be on a potential privatisation, we lift our target price to the offer price of 65 cents per share,” writes See in a Feb 15 report.

On Jan 21, a consortium formed by Penguin’s executive chairman and managing director has offered 65 cents per share to shareholders in a conditional privatisation offer.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now