Singapore “Flyer” of the Week: Ezra Holdings

ezra logo For this week, Ezra Holdings Limited (SGX: 5DN), an offshore contractor and provider of integrated offshore solutions across a broad spectrum of the support supply chain, has the prestige of being this week’s Singapore “Flyer”. As of the time of writing, it has chalked gains of 24.7% so far for the week.

On 26th August 2013, the company debunked a report from TradeWinds that went – “Samsung Heavy Industries is said to have considered making a takeover bid for Singapore’s Ezra Holdings”. Ezra said that it was not unaware of nor has it been engaged in any takeover talks as reported by TradeWinds. Ezra rose 3% the next day.

Then on 11th September 2013, due to a sudden 23% spike in share price under high volume, Singapore Exchange, at mid- trading day, issued a query to the company regarding the unusual trading activity. In the query, it asked, among others, for Ezra to disclose if the company is aware of any information which might explain the trading. The company replied close to the end of market close on the same day that it is unaware of any information that might the unusual trading activity. It went on to say that as announced on 26th August 2013, it “regularly explores and reviews business opportunities, projects and proposals relating to the subsea business and enters into discussions with various parties from time to time.”

The stock saw astronomical gains for the week probably due to takeover talks that were rekindled. It is currently trading at around 13 and has not dished out dividends for a few years now.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.