SINGAPORE (April 17): RHB Research is initiating coverage on Taiwan-based venture capital firm Hotung Investment Holdings with a “buy” call and a target price of $2.00.

“[Hotung] has historically traded at low valuations, as the market probably has not known or understood its business model,” says RHB analyst Goh Han Peng in a Monday report.

One of the pioneers in taiwan’s venture capital industry, Hotung typically invests in companies that are in an expansion stage of growth, across a broad range of industries including biotechnology, e-commerce, and smart home key components.

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