OUE HOSPITALITY TRUST (SGX:SK7)
OUE Hospitality Trust - Ceasing Coverage
- We are ceasing coverage on OUE HOSPITALITY TRUST (OUEHT, SGX:SK7) due to a high likelihood of a successful merger with OUE COMMERCIAL REIT (OUECT, SGX:TS0U). Our last recommendation was TAKE PROFIT with a Target Price of SGD 0.76.
- OUEHT and OUECT respective shareholders have approved the proposed merger at an EGM held on 14 Aug 2019. The court hearing of the merger application is expected early next month after which OUEHT is expected to be delisted by end 3Q19.
Quick recap of the merger transaction.
- In Apr 2019, OUECT proposed acquisition of all stapled securities of OUEHT by way of scheme consideration. The scheme consideration will be satisfied by 4.075 SG cents in cash and 1.3583 new OUECT units/OUEHT share.
- Post merger, OUE LIMITED (SGX:LJ3) will remain as the sponsor and major shareholder with a 48% stake in the combined entity (see report: OUE Hospitality Trust - Proposed Merger; Accept Offer).
See also
- OUE HOSPITALITY TRUST (SGX:SK7) - OUE Hospitality Trust Share Price; OUE Hospitality Trust Target Price; OUE Hospitality Trust Analyst Reports; OUE Hospitality Trust Corporate Actions; OUE Hospitality Trust Announcements; OUE Hospitality Trust Latest News.
- OUE COMMERCIAL REIT (SGX:TS0U) - OUE Commercial REIT Share Price; OUE Commercial REIT Target Price; OUE Commercial REIT Analyst Reports; OUE Commercial REIT Corporate Actions; OUE Commercial REIT Announcements; OUE Commercial REIT Latest News.
- OUE LIMITED (SGX:LJ3) - OUE Share Price; OUE Target Price; OUE Analyst Reports; OUE Corporate Actions; OUE Announcements; OUE Latest News.
Vijay Natarajan
RHB Securities Research
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https://www.rhbinvest.com.sg/
2019-08-19
SGX Stock
Analyst Report
0.760
SAME
0.760
