Stock Track | TIME INTERCON Plummets 5.38% Intraday on Market Concerns Over Acquisition Valuation and Share Dilution

Stock Track04-28 13:15

TIME INTERCON (01729) experienced a significant decline of 5.38% during intraday trading on Tuesday. The stock's sharp drop reflects ongoing market volatility following recent corporate actions.

Market sentiment appears to be negatively impacted by concerns surrounding the company's acquisition strategy. TIME INTERCON recently announced the acquisition of the remaining 51% equity in its Singapore subsidiary from Luxshare Precision for USD 12.7 million, which would make the subsidiary wholly-owned. This follows the subsidiary's previous acquisition of LEONI Kabel for approximately EUR 335 million, giving it control of the LEONI LCS Group with 10 global production facilities specializing in automotive and industrial cable products.

Analysts suggest that investor worries about acquisition valuation and potential share dilution are driving the sell-off, despite some brokerages maintaining strong buy ratings based on the long-term growth potential from the expanded automotive cable business.

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