Keppel Corporation (KEP) announced this morning that together with Singapore Press Holdings, it is considering a transaction involving its indirect interest with M1 which may or may not lead to a transaction for the shares in M1. It is also concurrently considering a transaction involving its interest in Keppel T&T, which may or may not lead to a transaction.
Trading in both M1 and Keppel T&T shares have been halted this morning.
Recall that Keppel T&T has a 19.3% stake in M1, while KEP has a 79.2% stake in Keppel T&T. We have a BUY rating on KEP with a FV estimate of S$8.38.
Source: OCBC Research - 24 Sept 2018
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Created by kimeng | Dec 29, 2022
Created by kimeng | Dec 29, 2022