(EKO MK/BUY/RM2.25/Target: RM3.00)
Ekovest entered into a sale-and-purchase agreement to sell a 40% stake in DUKE 1 & 2 to the EPF for RM1.13b. The company has set aside 21.6% of the sale proceeds amounting to RM244.4m (or up to 28.57 sen/share) as special dividends, implying a lucrative yield of over 12.7%. The special dividend is expected to be paid in 1Q17. The group also announced a 2-for-5 share split to further enhance the stock’s trading liquidity. Maintain BUY. Target price: RM3.00.
Source: UOB Kay Hian Research - 9 Nov 2016
bearbear11
Ekowest TP RM3.0 is not a dream.
2017-01-18 13:13