“We understand from market sources that the portfolio under due diligence is slightly smaller than the targeted $450 million. We anticipate that divestment will be done closer to book value or at a slight discount,” adds Natarajan.
RHB Bank Singapore is reiterating its “buy” recommendation on ESR-LOGOS REIT (SGX:J91U
) (E-LOG), but with a lower target price of 40 cents from 45 cents previously.
“E-LOG is still on track to divest a portfolio of Singapore assets, with proceeds likely for the purchase of newer logistics assets from its sponsor,” says analyst Vijay Natarajan in his June 13 report, noting also that divestment plans are progressing, with exclusivity entered with a potential buyer that is now conducting due diligence on assets.
