Affin Hwang: Axiata’s M1 sale provides capital for capex
“We maintain our ‘hold’ rating on Axiata with an unchanged price target of RM3.63 based on a 25% discount to its SOP valuation,” Affin Hwang said.
KUALA LUMPUR: Axiata Group Bhd 
‘s exit from M1 Ltd for RM1.65bil to Konnectivity Pte Ltd will allow the group to make a profit and redeploy the capital to fund its capex.
In a research note, Affin Hwang Capital research said it is positive on the deal, which largely falls within its expectations.
“We maintain our ‘hold’ rating on Axiata with an unchanged price target of RM3.63 based on a 25% discount to its SOP valuation,” Affin Hwang said.
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