IOI Properties could nearly double its share price in 12 months, says its most bullish analyst
KUALA LUMPUR (Nov 17): IOI Properties Group Bhd (KL:IOIPG) could nearly double its stock price in the next 12 months from a spin-off listing of its assets, said its most bullish analyst.
The property developer is entering a “sweet spot” for the launch of a real estate investment trust (REIT) in Malaysia, supported by stronger asset fundamentals, rising investor appetite for yield assets and macroeconomic tailwinds, said Hong Leong Investment Bank.
“We believe that the stars are aligning to provide a highly favourable window to launch its Malaysia REIT,” the house said in a note.
Shares of IOI Properties have largely recouped their sharp losses during the global market turmoil in April. However, further gains have been limited by…
