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Stock With Momentum: Symphony House

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Stock With Momentum: Symphony House

Post by Cals Fri 30 Oct 2015, 03:04

Stock With Momentum: Symphony House

By Asia Analytica / The Edge Financial Daily | October 29, 2015 : 10:51 AM MYT

This article first appeared in The Edge Financial Daily, on October 29, 2015.
[size=16]Symphony House Bhd ([You must be registered and logged in to see this image.] Valuation: 0.30, Fundamental: 2.25) (+ve)
Shares of Symphony House (Fundamental: 2.25/3, Valuation: 0.3/3) closed up 5.7% at 18.5 sen yesterday, with 33.7 million shares changing hands.
Note that on November 6, Symphony will hold an extraordinary general meeting (EGM) to seek shareholder approval for a proposed reverse takeover (RTO) by Ranhill Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard). This exercise has been a long time in the making as it was first announced in March 2014.
Under the RTO, Symphony shares will first be exchanged for new shares in Ranhill Holdings. The latter will then acquire power and water assets ultimately owned by Ranhill Energy and Resources Sdn Bhd (RERB) for RM800 million. The acquisition will be satisfied via the issuance of new Ranhill Holdings shares.
The RTO gives RERB an alternative route to listing its assets after its failed initial public offering in July 2013. This was because the company failed to disclose material changes related to its listing.
[You must be registered and logged in to see this image.]

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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