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Moya gets vote of confidence after private equity becomes controlling shareholder

Samantha Chiew
Samantha Chiew4/9/2018 10:27 AM GMT+08  • 3 min read
Moya gets vote of confidence after private equity becomes controlling shareholder
SINGAPORE (Apr 9): RHB is maintaining its “buy” call on Moya Holdings Asia after Moya’s founding shareholder, Moya Holding, sold out its stake in the group.
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SINGAPORE (Apr 9): RHB is maintaining its “buy” call on Moya Holdings Asia after Moya’s founding shareholder, Moya Holding, sold out its stake in the group.

In Jan, Moya Holding sold a stake to majority shareholder, Tamaris infrastructure at 10 cents each. This was followed by the April sale of the remaining stake to Gateway Partners -- a private equity fund which is now the substantial shareholder -- at 11 cents each or a 10% premium.

"We believe that this is a vote of confidence on the growth prospects of Moya," says lead analyst Jarick Seet in a Monday report, "We think the outlook is bright for the company and maintain our 'buy' call with an unchanged DCF-derived target price of 15 cents or 47% upside."

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