Hibiscus’s RM2b fund raising dilutive, TP 65c

“We welcome this move as it capitalises on the group’s strong growth trajectory as the probable acquisition of a new producing asset will boost its earnings immediately, ” Public Invest Research said.

KUALA LUMPUR: Public Invest Research expects Hibiscus Petroleum’s RM2bil fund-raising exercise to be dilutive near to medium-term, with significant generation of earnings from its new portfolio asset only likely from 2022 onwards.

In its research report issued on Thursday, it sees possible upward adjustments to production and offtakes, hence the potential enhancements to its discounted cashflow (DCF) valuations.