0431 GMT - OUE REIT may benefit from its divestment out of China, OCBC Investment Research's Donavan Tan says in a research report. The REIT's completion of this divestment at the end of December should be immediately accretive to its distribution per unit, if the REIT opts to use its proceeds to reduce debt, the analyst adds. While management seems to prefer using the proceeds for acquisition opportunities in gateway cities, the analyst is positive about this development, given that his key concern was capital constraints that restricted the REIT's growth opportunities. OCBC raises the unit's fair value estimate to S$0.345 from S$0.340 with an unchanged buy rating. Units are unchanged at S$0.300. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 26, 2025 23:31 ET (04:31 GMT)
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