LIM & TAN
ISOTeam ($0.087, down 0.3 cents) has announced plans to raise gross proceeds of S$10.0 million mainly to support its drone initiatives as part of the Group’s digital transformation strategy.
The fundraising exercise will comprise the proposed placement of approximately 86.2 million new ordinary shares in the capital of the Company at a placement price of 8.1 Singapore cents per share (“Share Placement”) that will raise proceeds of approximately S$7.0 million; and, a proposed convertible bond placement through the allotment and issue of 32.9 million conversion shares convertible at approximately 9.1 Singapore cents per share1 , which will raise an aggregate principal amount of S$3.0 million (“Convertible Bond Placement”) (together, the “Proposed Placements”).
ISOTeam’s market cap stands at S$61.5mln and currently trades at 8.7x forward PE and 1.3x PB, with a dividend yield of 0.9%. Consensus target price stands at S$0.10, representing 14.9% upside at current share price
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- Shenpwe·09-15It's interesting how they're focusing on digital transformation.LikeReport
- JackQuant·09-15Thanks for sharing!LikeReport