SPH - Who Is Superior?
SINGAPORE PRESS HLDGS LTD (SGX:T39)
KEPPEL REIT (SGX:K71U)
KEPPEL CORPORATION LIMITED (SGX:BN4)
- We think SPH (SGX:T39) shareholders are likely to go for Cuscaden’s revised scheme of full cash S$2.360/share or part share/cash offer of S$2.40/share.
- We believe Keppel Corp (SGX:BN4) is unlikely to counter with a higher offer and may look for other assets. Next catalyst: divestment of Keppel Corp’s O&M business.
- If Cuscaden succeeds, Keppel REIT's share price overhang will be removed while SPH REIT's share price may be capped at chain offer price of S$0.964 in the near term.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LIM Siew Khee CFA CGS-CIMB Research | EING Kar Mei CFA CGS-CIMB Research | LOCK Mun Yee CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-15
SGX Stock
Analyst Report
2.110
SAME
2.110
1.290
SAME
1.290
6.900
SAME
6.900
Read also CGS-CIMB's most recent report:
2022-01-20 Keppel Corporation 4Q21 Preview - Generous Dividend
Target prices by 2 other brokers at Keppel Corp Target Prices.
Listing of broker reports at Keppel Corp Analyst Report.
Relevant links:
Keppel Corp Share Price History,
Keppel Corp Announcements,
Keppel Corp Dividends & Corp Actions,
Keppel Corp News Articles