-- UOB-Kay Hian (SGX:U10) proposed to renew its buyback mandate at the upcoming annual general meeting, according to a Monday filing with the Singapore Exchange.
The company intends to undertake the purchase or acquisition of its shares up to a 10% limit during the period, with a view to increasing shareholders' value and improving the return on equity of the company.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:URI delivered strong Q1 results with operating EPS of $9.71, beating consensus by $0.77, while total revenue reached $3.9B (+7.2%) with rental revenue of $3.4B (+8.7%). Adjusted EBITDA margin of 44.1% declined 80 bps Y/Y, but excluding the prior year H&E merger termination benefit, margins actually expanded 60 bps, signaling an important inflection from persistent compression. We see this as evidence that management's restructuring efforts are paying off, with margin pressures finally showing signs of stabilization. The strong quarter enabled URI to raise full-year revenue guidance to $16.9B-$17.4B and adjusted EBITDA to $7.625B-$7.875B. Segment results were mixed, with general rentals achieving 6.2% revenue growth and 150 bps margin expansion to 33.8%, while specialty rentals posted robust 13.8% revenue growth but faced 170 bps margin compression to 41.4%. We believe leverage remains well below historical levels, positioning URI for accretive M&A deals that could generate additional guidance lifts.
Telix Pharmaceuticals (ASX:TLX) said it settled the issue of $600 million in 1.50% convertible notes due 2031, according to a Thursday Australian bourse filing.The convertible notes are expected to be listed on the Official List of the Singapore Exchange Securities Trading on Thursday.In the same filing, the company said that the repurchase of around AU$637 million in principal of the AU$650 million worth of 2.375% convertible bonds due 2029 is "substantially complete."After the repurchase, given that less than 15% in aggregate principal amount of the existing bonds will remain outstanding, Telix said it plans to exercise its right to repurchase and cancel all of the remaining existing bonds at their principal amount.
Xinming China (HKG:2699) proposed a share consolidation on the basis of 1 new share for every 25 held in the company, according to a Hong Kong bourse filing Thursday.The move will reduce the firm's existing shares from 93.9 million to around 3.8 million consolidated shares.The firm plans to undertake a rights offering following the share consolidation to raise up to HK$106 million.The firm will offer eligible shareholder six rights shares for every consolidated share owned in the firm. The rights offering will be priced at HK$4.70 per rights share.Shares of the company slumped 10% in recent trade.