SINGAPORE (Sept 26): NRA Capital is maintaining its “overweight” rating on ISDN Holdings and fair value of 30 cents, following the group’s recent share price recovery by 1.2 cents to 18.3 cents last Friday.

ISDN had on Sept 13, submitted its application to the Hong Kong Stock Exchange for a potential dual listing.

NRA Capital’s analyst Liu Jinshu says in a note on Monday that ISDN currently trades at a 50% discount to its net asset value and adds that current prices “may not have fully factored any earnings recovery in FY17 and any successful dual listing in 4QFY16 or FY17”.

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