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NewsRHB Research ups Lion Industries to trading buy, FV RM2.54
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RHB Research ups Lion Industries to trading buy, FV RM2.54
by hlk Thu 23 Jun 2011, 10:33
KUALA LUMPUR: RHB Research Institute has upgraded Lion Industries’ indicative fair value to RM2.54 and upgraded it to a Trading Buy.
Bloomberg reported that Baosteel Group Corp, China’s second largest steelmaker, is in talks with Lion Group to buy a stake in Amsteel Mills Bhd.
“We suspect that the offer will not be just for a stake in Amsteel Mills, but may include stakes in other steelmaking units within the Lion Group as well. It is also quite likely that Baosteel could be roped in as a strategic investor for the RM3.2 billion blast furnace project, given its expertise in the flat steel product segment,” RHB Research said.
RHB Research said it lowered its holding company discount to 20% to reflect improved trading sentiment on the back of the potential entrance of Baosteel and the likelihood that Lion Industries may not be roped in to invest in Lion Diversified’s high-risk RM3.2 billion blast furnace project.
Bloomberg reported that Baosteel Group Corp, China’s second largest steelmaker, is in talks with Lion Group to buy a stake in Amsteel Mills Bhd.
“We suspect that the offer will not be just for a stake in Amsteel Mills, but may include stakes in other steelmaking units within the Lion Group as well. It is also quite likely that Baosteel could be roped in as a strategic investor for the RM3.2 billion blast furnace project, given its expertise in the flat steel product segment,” RHB Research said.
RHB Research said it lowered its holding company discount to 20% to reflect improved trading sentiment on the back of the potential entrance of Baosteel and the likelihood that Lion Industries may not be roped in to invest in Lion Diversified’s high-risk RM3.2 billion blast furnace project.
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