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Analysts downgrade MNACT to 'hold' as current share price reaches cash offer price

Felicia Tan
Felicia Tan4/21/2022 10:55 AM GMT+08  • 3 min read
Analysts downgrade MNACT to 'hold' as current share price reaches cash offer price
Festival Walk in Hong Kong. Photo: MNACT
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Analysts from CGS-CIMB Research and Citi Research have downgraded their recommendations on Mapletree North Asia Commercial Trust (MNACT) after the REIT’s unit price surpassed the offer price of $1.1949 from Mapletree Commercial Trust (MCT).

Units in MNACT have been trading from $1.22 to $1.23 since the manager of MCT announced that it would give MNACT unitholders another option to receive the consideration of $1.1949 in full cash.

CGS-CIMB analysts Lock Mun Yee and Eing Kar Mei have lowered their call to “hold” from “add” with an unchanged target price of $1.13.

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