CSE Global's Recent Share Placement Looks Positive, UOB Kay Hian Says -- Market Talk

Dow Jones04-03

0246 GMT - CSE Global's recent share placement looks positive, given its good mergers and acquisitions track record, UOB Kay Hian analysts say, noting the net proceeds from the share placement will be used to fund synergistic acquisitions in the U.S., New Zealand, and Australia. The Singapore-listed technology company continues to focus on value-accretive and strategic acquisitions in complementary and adjacent capabilities with its own, especially in critical communications and electrification, the analysts say. The brokerage maintains the stock's buy rating, but trims its target price to S$0.56 from S$0.57 to reflect the share dilution impact. Shares are unchanged at S$0.43. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 02, 2024 22:46 ET (02:46 GMT)

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