Keppel REIT's Units May be Weighed in Near Term by Possible Fundraising Plan
Dow Jones10-21 09:53
0153 GMT - Keppel REIT's units may be weighed in the near term by a possible fundraising plan, RHB Research's Vijay Natarajan says in a note. The REIT intends to finance its planned acquisition of 51% interest in Keppel South Central via a combination of bank loans, perpetual securities, internal cash and/or equity financing, the analyst notes. The REIT could raise 100 million Singapore dollars via equity fundraising, subject to market conditions, to fund the deal, the analyst says. RHB lowers the trust's target price to S$0.90 from S$0.99 to reflect a higher cost-of-equity assumption, with an unchanged neutral rating. Units are 0.6% higher at S$0.79.
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