=MARKET BUZZ: Sisram Rallies; M&A Could Be A Catalyst - Cinda Intl
HONG KONG (May 17) -- Sisram Medical, an Israel-based company spun off from Fosun Pharma, jumps 6.4% to HK$6.61. Cinda International, which doesn't have a rating on the stock, says it is the "cheapest medical aesthetic system provider" at 15.1x FY18 PE, vs global peer Cutera, which is valued at 36.2X; suggests accumulating stock on weakness. House says Sisram’s equipment has successfully been implemented in Fosun’s Chancheng Hospital in China, and company targets implementing products at other Fosun affiliated institutions; adds, M&A could be a share price catalyst for Sisram as it plans to use 29.5% of its HK$774 million in net proceeds from IPO on M&A, and is "actively searching for M&A opportunities.
- By Amy Lam; amy.lam@NikkeiNewsrise.com; +85239605153
- Edited By V. Phani Kumar
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.