SingTel - UOB Kay Hian 2023-09-19: Gradually Unlocking Shareholder Value

SingTel - Gradually Unlocking Shareholder Value

SingTel (SGX:Z74) | SGinvestors.ioSingTel (SGX:Z74)
  • SingTel (SGX:Z74) entered into a strategic partnership with Kohlberg Kravis Roberts & Co. (KKR) to divest up to 20% of its regional data centre business (RDC) for S$1.1b. This values the business at an enterprise value of S$5.5b and lofty 31x FY24F EV/EBITDA multiple. There is minimal impact to SingTel's near-term earnings.
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SingTel's new strategic partner.

  • SingTel announced that the group has reached a definitive agreement with global investment firm, Kohlberg Kravis Roberts & Co. (KKR), for a 20% stake sale in ST Dynamo Investment Holdings, SingTel’s holding company for the groups regional data centre (RDC) business.
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  • Pending regulatory approval, the transaction is expected to be completed by 4Q23 (3QFY24) and is not expected to have a material impact on SingTel’s FY24 financials.

Synergistic deal.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Chong Lee Len UOB Kay Hian Research | Llelleythan Tan Yi Rong UOB Kay Hian | 2023-09-19

Read also UOB's most recent report:
2023-11-10 SingTel - 1HFY24 Results In Line, Higher Dividend Policy.

Price targets by 5 other brokers at SingTel Target Prices.

Listing of research reports at SingTel Analyst Reports.

Relevant links:
SingTel Share Price History,
SingTel Announcements,
SingTel Dividends & Corporate Actions,
SingTel News Articles


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