Evraz Plc

Delong is third top gainer after positive profit guidance

SINGAPORE (Feb 21): Delong Holdings is the third top gainer on the Singapore market this morning after announcing a positive profit guidance.

As at 11.57am, shares in steelmaker are up 38 cents or 9.8% to $4.24 with 469, 200 shares traded.

In a Tuesday night filing, Delong says it expects to report a significant increase in net profit in 4Q17 and FY17 compared to the corresponding year, following a preliminary review of the unaudited results for the periods in review.

Delong up 7.4% as shareholder Evraz says steelmaker 'undervalued'

SINGAPORE (Jan 23): Delong Holdings, the Singapore-traded steelmaker with assets in China, jumped 26 cents to $3.76 with 182,000 shares traded.

The stock has risen 44% since Evraz Plc, a Russia steelmaker that owns a 15% stake in Delong, said in a Dec 2017 interview with Bloomberg that the company was undervalued because large investors have long ignored the stock.

Fair value could be US$4 billion to US$5 billion, compared with its current market value of about $200 million, said Aleksey Eberents, director for corporate strategy for Evraz in an emailed interview.

Be informed of the stories that matter


Be informed of the stories that matter