The investment, says Seet, should increase Oxley’s ability to repay the bond in April and invest in new projects abroad. Oxley’s management says it is also focused on completing its projects to ensure a continuous cash flow.
RHB Group Research analyst Jarick Seet has maintained “buy” on Oxley Holdings, with the same target price of 27 cents on the counter.
Oxley, on Jan 7, announced that private equity firm Dignari Capital Partners (DCP) invested up to US$80 million ($106.4 million) into the group via convertible bonds at 25 cents a share, representing a 13.4% premium to its share price before the signing of the agreement.
