RHB neutral on Coraza Integrated placement

KUALA LUMPUR: RHB Investment Bank Research is neutral on Coraza Integrated Technology Bhd’s private placement and downgraded the company to “neutral” with a lower target price of 87 sen.

“We are neutral on the proposals, given the potential near-term share price overhang and dilution to EPS, but believe the funds raised to finance expansion and facility upgrades could accelerate and capture various growth opportunities,” the research house said.