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Author: kimeng   |   Latest post: Tue, 18 Dec 2018, 10:39 PM

 

M1 Ltd: Stake Sale on the Cards?

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M1 Ltd has announced a trading halt this morning. Keppel Corporation Limited (KEP) and Singapore Press Holdings Limited (SPH) are considering a transaction involving their indirect interests in M1 Limited which may or may not lead to a transaction for the shares in M1 Limited.

KEP and SPH have a 19.3% and 13.5% stake in M1, respectively.

This may revive memories of a strategic review conducted by Axiata Group Berhad, SPH and Keppel T&T back in early 2017, which was dropped subsequently. We currently have a HOLD rating on M1 with a fair value of S$1.65.

Source: OCBC Research - 24 Sept 2018

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Labels: M1

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