- SingPost (SGX:S08) agreed to divest its Australia business for AUD1.02bn to Pacific Equity Partners and will realise a gain on disposal of about S$312.1m. Debt will also be significantly reduced to S$350m and a special dividend is likely. We believe that majority of the proceeds will likely be returned as dividends to shareholders.
- - Read this at SGinvestors.io -
Divestment gain of S$312m & debt pared down
- With an agreed price of AUD1.02bn, SingPost will realise a gain on disposal of S$312.1m.
- - Read this at SGinvestors.io -
- We also expect finance expense to be significantly lowered as blended finance cost for its Australia debt is around 5%+ as compared to 3% for its S$-denominated debt.
More monetisation and special dividends likely
- 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/.
Jarick Seet Maybank Research | https://www.maybank.com/ 2024-12-03
Read also Maybank's most recent report:
2024-12-06 Singapore Post - BUY On Weakness – S&P's Debt Rating Irrelevant.
Price targets by 3 other brokers at SingPost Target Prices.
Listing of research reports at SingPost Analyst Reports.
Relevant links:
SingPost Share Price History,
SingPost Announcements,
SingPost Dividends & Corporate Actions,
SingPost News Articles
