In March, PLife REIT’s sponsor IHH Healthcare had submitted a bid to acquire Ramsay Sime Darby for RM5.67 billion ($1.83 billion) on a cash-free debt-free basis. Should the acquisition proceed, IHH will need funding, which could be fulfilled if it divests the hospital block of Mount Elizabeth Novena Hospital to PLife REIT, Koh writes.
UOB Kay Hian analyst Jonathan Koh has upped his target price on Parkway Life REIT (PLife REIT) to $4.82 from $4.72 previously after he sees a “potential catalyst in the making”.
Koh has, however, kept his “hold” recommendation for the time being.
