SingPost plans to use proceeds from the divestment to pare down Australian dollar-denominated debt which stood at A$614.8 million as at Sept 30.
Ada Lim of OCBC Investment Research has kept her "hold" call and 58 cents fair value on Singapore Post (SGX:S08
) , following its divestment of an Australia-based unit that will see it book a gain of some $312.1 million.
SingPost, in its Dec 2 pre-market announcement, said it plans to sell Freight Management Holdings for an enterprise value of A$1.02 billion, or $897.6 million.
