KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR) said it was still tentative at this stage whether the FBM KLCI could sustain its rise from Tuesday, Dec 28.
The research house said on Wednesday, Dec 29 this was especially in view of the light trading volume, where only 823 million shares were traded, and lack of new market developments.
With Wall Street also finishing mixed on Tuesday night ' key U.S. equity bellwether closed between -0.2% and +0.2% last night ' HDBSVR reckoned the FBM KLCI would'' probably struggle to clear the immediate resistance level of 1,525 for the moment.
'News flows on the corporate scene are equally quiet these days. From the short list of company announcements, one name stood out to attract a bit more interest today,' it said.
HDBSVR said DFZ Capital has received a takeover offer to acquire all the remaining shares not held by Atlan (who is the offeror) to be settled in: (a) cash at RM3.00 per DFZ Capital share (vs. the current market price of RM3.60); or (b) new shares and warrants in Esmart on the basis of 4.04 Esmart shares per DFZ Capital share and one Esmart warrant for every 10 Esmart shares issued; or (c) a combination of the two options.
Atlan is in the midst of undertaking a reverse takeover of Esmart (listed in Singapore with a current share price of S$0.02).
The research house said on Wednesday, Dec 29 this was especially in view of the light trading volume, where only 823 million shares were traded, and lack of new market developments.
With Wall Street also finishing mixed on Tuesday night ' key U.S. equity bellwether closed between -0.2% and +0.2% last night ' HDBSVR reckoned the FBM KLCI would'' probably struggle to clear the immediate resistance level of 1,525 for the moment.
'News flows on the corporate scene are equally quiet these days. From the short list of company announcements, one name stood out to attract a bit more interest today,' it said.
HDBSVR said DFZ Capital has received a takeover offer to acquire all the remaining shares not held by Atlan (who is the offeror) to be settled in: (a) cash at RM3.00 per DFZ Capital share (vs. the current market price of RM3.60); or (b) new shares and warrants in Esmart on the basis of 4.04 Esmart shares per DFZ Capital share and one Esmart warrant for every 10 Esmart shares issued; or (c) a combination of the two options.
Atlan is in the midst of undertaking a reverse takeover of Esmart (listed in Singapore with a current share price of S$0.02).
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