Afren Getting Seplat Bid on Monday Has Low Likelihood: Oriel
2015-01-16 16:06:46.418 GMT
By Benjamin Dow
(Bloomberg) -- Afren stock’s large gain yesterday on news
of Seplat’s new debt facility suggests that equity investors see
good signal that acquisition will proceed, Oriel says in note;
“interestingly,” investors in Afren’s 2020 note pushed the
value down 22%
* Calls divergence in valuations “interesting,” says doesn’t
have “good explanation”
* Maintains sell rating, PT 38p on Afren
* Maintains sell rating, PT 38p on Afren</li></ul>
* Afren pares gains after rising as much as 23% earlier on
volume 5x that of 3-month daily average; weekly loss of 26%,
worst on closing basis since week of OPEC meeting at end-
Nov.
* NOTE: See yesterday’s story on Seplat debt
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To contact the reporter on this story:
Benjamin Dow in Moscow at +7-495-771-7735 or
bdow2@bloomberg.net
James Ludden
2015-01-16 16:06:46.418 GMT
By Benjamin Dow
(Bloomberg) -- Afren stock’s large gain yesterday on news
of Seplat’s new debt facility suggests that equity investors see
good signal that acquisition will proceed, Oriel says in note;
“interestingly,” investors in Afren’s 2020 note pushed the
value down 22%
* Calls divergence in valuations “interesting,” says doesn’t
have “good explanation”
* Maintains sell rating, PT 38p on Afren
* Maintains sell rating, PT 38p on Afren</li></ul>
* Afren pares gains after rising as much as 23% earlier on
volume 5x that of 3-month daily average; weekly loss of 26%,
worst on closing basis since week of OPEC meeting at end-
Nov.
* NOTE: See yesterday’s story on Seplat debt
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Benjamin Dow in Moscow at +7-495-771-7735 or
bdow2@bloomberg.net
James Ludden