OUE kept at 'hold' with price target of $2.05 by Maybank Kim Eng

Stock Name: OUE Com Reit
Company Name: OUE COMMERCIAL REIT

Research House: Maybank Kim Eng

Price Call: HOLD

Target Price: 2.05

SINGAPORE (June 11): Integrated property developer OUE announced on June 10 that it has entered into a conditional sale and purchase agreement with OUE Commercial Real Estate Investment Trust (OUE C-REIT) for the sale and transfer of its shareholding interest in OUB Centre (OUBC).

OUBC is the registered owner of One Raffles Place and owns 81.54% of the beneficial interest in One Raffles Place.

Under the terms of the agreement, OUE will inject into OUE C-REIT all of its ordinary shares in Beacon Property Holdings (BPH), a wholly-owned subsidiary of the company.