Home Capital Broker's Calls

Could logistics business foray move Cosco's share price?

Stanislaus Jude Chan
Stanislaus Jude Chan11/7/2017 4:42 PM GMT+08  • 2 min read
Could logistics business foray move Cosco's share price?
SINGAPORE (Nov 7): DBS Group Research is keeping its “hold” call on Cosco Shipping International (Singapore) but raising its target price to 33 cents, from 27 cents previously, in view of better clarity on its new core business ahead.
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.

SINGAPORE (Nov 7): DBS Group Research is keeping its “hold” call on Cosco Shipping International (Singapore) but raising its target price to 33 cents, from 27 cents previously, in view of better clarity on its new core business ahead.

This comes after Cosco tabled its bid to foray into the logistics business via a takeover offer to acquire SGX-listed shipping logistic services provider Cogent Holdings.

Cosco last week announced it has made a voluntary conditional cash offer to acquire all the issued ordinary shares of Cogent at an offer price of $1.02 each, for a total of $488.07 million.

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.