CGS-CIMB Research analysts Ivy Ng Lee Fang and Nagulan Ravi have kept their “add” call for Wilmar International and target price of $6.15 unchanged in a research note dated August 23.

The rating and target price reiteration comes after the company announced that market regulator Securities and Exchange Board of India (SEBI) listed the status of the draft offer document relating to the proposed IPO of Adani Wilmar as “issuance of observation kept in abeyance”. The abeyance could last for a period of 30 days or 45 days or 90 days or more. 

See: Wilmar JV's IPO place on hold by Securities and Exchange Board of India

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook