- SingTel (SGX:Z74) divested an 0.8% stake in Bharti Airtel at Rs1,194/sh to US-based investment firm GQG Partners (not listed). This will help SingTel raise gross proceeds of about S$950m. Post transaction, SingTel’s effective stake in Bharti (BHART IN) will drop to 29.0% from 29.8%.
A better execution than the previous round
- - Read this at SGinvestors.io -
Raises potential for special dividends
- With SingTel’s balance sheet in an already strong position at 1.5x net debt to EBITDA, we see the stake sale raises potential for special dividends.
- - Read this at SGinvestors.io -
Possible share buybacks
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Singapore Research Team Maybank Research | https://www.maybank-ke.com.sg/ 2024-03-07
Read also Maybank's most recent report:
2024-05-15 SingTel - Associates' Delivery May Cause Slight FY24E Earnings Miss.
Previous report by Maybank:
2024-04-29 SingTel - Correction Is A Buying Opportunity; Reiterate Buy..
Price targets by 7 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
