Melbourne acquisition does little to boost estimates for Roxy Pacific
Michelle Zhu • • 1 min read
SINGAPORE (Nov 22): OCBC Investment Research is maintaining its “hold” call on Roxy Pacific with an unchanged fair estimate of 52 cents following news of its acquisition of a freehold property in Melbourne, Australia, for A$74.14 million ($76.1 millio
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SINGAPORE (Nov 22): OCBC Investment Research is maintaining its “hold” call on Roxy Pacific with an unchanged fair estimate of 52 cents following news of its acquisition of a freehold property in Melbourne, Australia, for A$74.14 million ($76.1 million).
To recap, the group had bought a 45% stake in joint venture TE2 Roxy Australia via its indirect wholly-owned subsidiary, Roxy-Pacific Investments, to acquire the property at 312 St Kilda Road.
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