Sime Darby surges 36.22% post de-merger, new listings fall

TheEdge Thu, Nov 30, 2017 09:20am - 3 years ago

KUALA LUMPUR (Nov 30): Sime Darby Bhd (SDB) surged 36.22% in active trade this morning, following the completion of its de-merger exercise with the listing of Sime Darby Plantation Bhd (SDPlant) and Sime Darby Property Bhd (SDP).

At 9.01am, SDB rose 67 sen to RM2.52 with 992,800 shares done

SDP, however, fell  12% or 18 sen to RM1.32 while SDPlant fell 0.72% or 4 sen to RM5.55.

Meanwhile, Affin Hwang Capital Research upgraded SDB to “Buy’ at RM1.85 with a target price of RM2.16.  

“Our RNAV-based fair value for SDB post-exercise is RM14.7 billion or RM2.16/share.

“We upgrade our call to Buy from Hold with adjusted RNAV-based TP of RM2.16, giving potential upside of 17%,” it said.

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AFFIN 1.780
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SIME 2.230


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