SEH 0.00% 25.0¢ sino gas & energy holdings limited

i don't know anything about this stock but Wednesday, 27 April...

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    i don't know anything about this stock but

    Wednesday, 27 April 2016
    Sino Gas and Energy
    Positive read-through from partner sell-out
    Analyst | Matthew Keane

    Sino Gas and Energy’s (SEH) joint venture (JV) partner MIE Holdings (HK:1555) announced
    the sale of its entire interest in Sino Gas & Energy Limited (SGE: 51% MIE, 49% SEH) for
    US$220m. The see through value for SEH’s 49% stake in SGE is US$211m (A$273m) or
    $0.13/sh. Incorporating US$10m debt and US$59m cash at March 31, the implied SEH
    valuation is $0.16/sh. Additional positives relating to this transaction include the expected
    confidence of the incoming party that a payment resolution with PetroChina regarding
    Sanjiaobei (SJB) sales is likely and the alleviation of concerns regarding MIE’s ability to
    fund its contribution, given the ex-partner’s poor balance sheet. BUY recommendation
    maintained with a $0.25 target price.
 
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