In a Wednesday report, Lim & Tan’s research team expects the buyout to be completed before the end of March. But they now cost more as the price per rig has risen to US$4 million per rig from US$3 million each due to a bidding war, so says a local media source.
SINGAPORE (March 8): Lim & Tan Securities is upgrading its rating on Ezion Holdings to “hold” from “reduce” previously, mainly because it is now trading at an improved price-to-book value of 0.58x P/B.
Ezion is said to be in final talks with the interim judicial managers of Swissco Holdings to take over four rigs co-owned by joint ventures (JVs) between the two parties, at a total consideration of over US$16 million ($22.6 million).
