SINGAPORE (Nov 25): NRA Capital is maintaining its “overweight” on ISDN Holdings with 20 cents target price as it moves a step closer to its proposed dual listing on the Hong Kong Stock Exchange after getting clearance from the Singapore Exchange.
In a Thursday report, analyst Lin Jinshu notes that the listing of 40 million shares in Hong Kong is now pending approval from shareholders and HKSE, with the issue price serving as a catalyst for the Singapore share price.
“Barring unforeseen circumstance, we would expect the dual listing to take place within the next few months or so,” says Lin.
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