IREIT Global's Plan to Divest Spanish Office Asset at Premium Looks Positive -- Market Talk

Dow Jones01-02

0634 GMT - IREIT Global's planned divestment of its Spanish office asset at a premium to valuation looks positive, RHB Research analyst Vijay Natarajan says in a research report. The divestment is at a 5.2% premium to June 2023's valuation and the REIT will book a gross gain of EUR1.2 million, the analyst says. The divestment will also strengthen the REIT's balance sheet position with a low gearing, offering debt headroom for opportunistic acquisitions, the analyst adds. RHB raises the unit's rating to buy from neutral and the target price to S$0.47 from S$0.42. Units are 1.2% lower at S$0.40. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 02, 2024 01:34 ET (06:34 GMT)

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RHB raises the unit's rating to buy from neutral and the target price to S$0.47 from S$0.42. Units are 1.2% lower at S$0.40. 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