Vard Holdings kept at 'hold' as it awaits delisting approval

SINGAPORE (Nov 14): DBS is maintaining its “hold” recommendation on Vard Holdings with a target price of 25 cents.

The research house’s call came after the group announced on Monday that its parent company, Fincantieri Oil & Gas has proposed a voluntary delisting via an exit offer to acquire all of Vard’s remaining shares for 25 cents per share in cash.