0634 GMT - LHN may benefit from its proposed spinoff and listing of subsidiary Coliwoo Group, Phillip Securities Research's Paul Chew says in a research report. The planned spinoff is a positive development, as it'll better realize the underlying value of Coliwoo, a co-living business, the head of Research says. The extra capital and Coliwoo's asset-light model can accelerate growth of the franchise, particularly overseas, Chew says. Coliwoo's growth outlook is intact, with a pipeline of 428 additional 'keys' under renovation, Chew adds. The brokerage raises the stock's target price to S$0.61 from S$0.56 to reflect a higher valuation of 7x price-to-earnings versus 6.5x previously. Keys usually refer to physical keys that grant access to properties. LHN's shares are 3.0% higher at S$0.52. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

May 19, 2025 02:34 ET (06:34 GMT)

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