0334 GMT - Investors shouldn't accept the unattractive offer from Aelios for Suntec REIT's units, Morningstar's Xavier Lee says in a research report. Aelios recently increased its ownership of the REIT's units to 30% or more, requiring the investment holding company to make a mandatory general offer for the REIT, the equity analyst notes. The offer price of S$1.16 per unit in cash doesn't reflect the REIT's intrinsic value, the analyst says. To encourage unitholders' acceptance, the offer price should be at or above Morningstar's fair value estimate of S$1.38 per unit, the analyst says. Given the unit price has climbed above S$1.16 following Aelios' announcement, investors can get more value by selling in the open market, the analyst adds. Units are 2.4% lower at S$1.20. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 08, 2024 22:34 ET (03:34 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。