Stock Name: KLCCP
Company Name: KLCC PROPERTY HOLDINGS BHD
Affin Investment Bank Research raised its target price on shares of KLCC Property Holdings Bhd to RM7.50 from RM7.20 as it expects the company's stocks to trade at a premium valuation following a restructuring exercise.
Shares of the company, which have been suspended since April 23, will merge with units of KLCC Real Estate Investment Trust (REIT) to create a market capitalisation of RM12.1 billion, said Affin.
The new entity will be supported by a low level of debt and a stable of prime assets, it added.
The brokerage, however, downgraded KLCC Property to 'add' from 'buy' as it expects a lower upside from the stock.
The new entity comprising KLCC Property and KLCC REIT is expected to list on the local bourse in early May, as the restructuring exercise is said to be progressing well.-- Reuters
Company Name: KLCC PROPERTY HOLDINGS BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 7.50 |
Affin Investment Bank Research raised its target price on shares of KLCC Property Holdings Bhd to RM7.50 from RM7.20 as it expects the company's stocks to trade at a premium valuation following a restructuring exercise.
Shares of the company, which have been suspended since April 23, will merge with units of KLCC Real Estate Investment Trust (REIT) to create a market capitalisation of RM12.1 billion, said Affin.
The new entity will be supported by a low level of debt and a stable of prime assets, it added.
The brokerage, however, downgraded KLCC Property to 'add' from 'buy' as it expects a lower upside from the stock.
The new entity comprising KLCC Property and KLCC REIT is expected to list on the local bourse in early May, as the restructuring exercise is said to be progressing well.-- Reuters
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