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Ezion an opportunity for bottom-fishing after unexpected selldown, says DBS

PC Lee
PC Lee5/15/2018 01:25 PM GMT+08  • 2 min read
Ezion an opportunity for bottom-fishing after unexpected selldown, says DBS
SINGAPORE (May 15): DBS Group Research is maintaining a “buy” on Ezion Holdings saying the stock provides a bottom-fishing opportunity.
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SINGAPORE (May 15): DBS Group Research is maintaining a “buy” on Ezion Holdings saying the stock provides a bottom-fishing opportunity.

With successful restructuring, improving outlook and strategic shareholders coming in above 20 cents, DBS says it did not expect the stock to be sold down to 0.5 times impaired book value.

Since the lifting of share trading suspension on April 17, Ezion’s shares has trended lower. given selling pressure from Prudential - M&G which was paring down its stake to below its initial 5.65% or 132 million shares.

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