Ekovest: Rewards Fit For A Duke

Date: 
2016-11-09
Firm: 
UOBKayHian
Stock: 
Price Target: 
3.00
Price Call: 
BUY
Last Price: 
0.35
Upside/Downside: 
+2.65 (757.14%)

(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

Discussions
Be the first to like this. Showing 2 of 2 comments

bearbear11

Ekowest TP RM3.0 is not a dream.

2017-01-18 13:13

ctquay600305

yes Ekowest TP RM3.0 is not a dream.bb11

2017-01-18 15:37

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