Avance Gas Holding is principally engaged in the transportation of Liquefied Petroleum Gas ("LPG"). Co. operates a fleet of 14 Very Large Gas Carriers, providing transportation services to oil majors and traders of LPG on a global basis. Co. transports LPG from the Middle East and the U.S. Gulf or U.S.loan facility from BCBloan facility from BCB(excludes dividends satisfied by issue of shares) East Coast to destinations in Europe, South America and Asia.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
The independent financial analyst theScreener just downgraded the general evaluation of BW LPG (NO), active in the Marine Transportation industry. As regards its fundamental valuation, the title loses a star(s) and now shows 1 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Slightly Negative. As of the analysis date October 15, 2021, the closing price was NOK 44.30 and its target price was estimated at NOK 36.31.
Avance Gas Holding Ltd. - Signed a term sheet for the refinancing of the VLGC Iris Glory (2008) Bermuda, 11 October 2021 – Avance Gas Holding Ltd (the “Company”) is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation a...
Statement From Avance Gas Holding Ltd in Connection With the Mandatory Offer From Hemen Holding Limited Bermuda, 4 October 2021 – The enclosed statement is made by members of the board of directors (the "Board") of Avance Gas Holding Ltd ("Avance Gas" or the "Company") in connection with the mandatory offer (the "Offer") from Hemen Holding Limited ("Hemen" or the "Offeror") to acquire all issued shares in the Company (the "Shares") not already owned by the Offeror against a cash consideration of NOK 43.00 per Share (the "Offer Price"), per the terms and conditions set out in the offer docum...
The shares have fallen in Q3, leaving YIT looking more attractively valued at a discount to peers on P/E. However, we reiterate our HOLD since we see Q3 marking low season (and thus not providing any potential share-price catalysts) and do not expect any further colour on the new CEO’s plans to restore EBIT margins before the CMD (scheduled for 23 November). We have trimmed our target price to EUR5 (5.5) on our updated forecasts and peer valuations. The Q3 results are due at 08:00 EET on 29 October.
NRC announced solid order bookings of cNOK2bn in Q3, making it the second-best ever quarter in terms of orders. However, volumes for the Swedish operations remain low, and we see a risk that NRC might again fail to raise EBIT margins in 2022. We see downside risk in Infront consensus ahead of the Q3 results (due at c07:00 CET on 9 November) and a weak order intake in Sweden, and thus reiterate our HOLD and NOK17 target price. We continue to see solid upside potential if the company can lift its EBIT margins, but owing to its track record, our view is that ‘seeing is believing’.
We do not believe escalating inflation for building costs will significantly affect the Q3 results (due at 07:00 CET on 11 November), and forecast a Q3 EBIT slightly above Infront consensus due to profits expected from the sale of Construction City in the Property division. However, we find the longer-term consensus EBIT margin too bullish, putting our 2022e EPSs c20% below consensus. Accordingly, we reiterate our SELL and have trimmed our target price to NOK134 (136) on updated peer valuations.
Unfortunately, this report is not available for the investor type or country you selected.Browse all ResearchPool reports
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.