Ong has also kept her earnings estimates unchanged, pending the completion of the demerger.
See also: CapitaLand rallies after CEO says not growing AUM for AUM’s sake
CapitaLand, on March 22, proposed a strategic restructuring and the listing of CapitaLand Investment, where CapitaLand’s investment management platforms, as well as its lodging business, will be consolidated into CapitaLand Investment (CLI).
CLI will then be listed on the Singapore Exchange (SGX). CapitaLand’s real estate development will be placed under private ownership to be fully held by CLA Real Estate Holdings, CapitaLand’s existing controlling shareholder.
Should the proposed restructuring be approved, the estimated date for the delisting of CapitaLand and the listing of CLI will be on Sept 17.
Ong has identified that catalysts to CapitaLand’s share price could come from faster asset recycling and a recovery in the hospitality industry.
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As at 4.49pm, shares in CapitaLand are trading flat at $4.02.
Photo: CapitaLand
