Monday, June 5, 2017

WILL THIS BE THE NEXT PRIVATISATION TARGET?

Wheelock Properties stock
WHEELOCK PROPERTIES stock has been singled out as a prime privatization candidate by Phillip Securities in its research report dated 2nd Jun 2017. The report might have triggered the 4.6% increase in the stock price of Wheelock Properties on the same day of the release of the report, accompanied by strong volume. Phillip Securities has a trading buy target on Wheelock Properties at $2.28 which means a further upside of 25% from the current stock price of $1.82.
The privatization talks of Wheelock Properties stock has been ongoing for some time but what is different this time round as highlighted by Phillip Securities is that all debt of Wheelock Properties has been cleared at Q4 2016 and no new land tender since 2013. And what is even more noteworthy is that Wharf Holdings’ intent to consider listing a separate vehicle for investment properties could bolster privatization for Wheelock Properties Singapore.

Wheelock Properties stock currently trades at 0.722 Price-to-Book ratios, at a dividend yield of 3.3%. Wheelock Properties Limited has a 76.21% major stake in the stock. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

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