Common Contracts
1 similar null contracts
A share swap agreement to enhance tax efficiencyJune 20th, 2024
Overnight (20 Jun 2024), PMETAL proposed to undertake a share swap, where PMETAL will divest its entire direct 25% stake in PT Bintan to HK Prime Aluminium Investment (a 100%-subsidiary of Nanshan Aluminium) for a 25.59% stake in Nanshan Aluminium, worth about USD329.8m each. We are neutral on this development. No change to our earnings estimates. We maintain a BUY on PMETAL with an unchanged TP of MYR6.10, pegged to 25x FY25E PER.
