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Broker's Digest: Yangzijiang Shipbuilding, Grab Holdings, SIA Engineering and Singapore Exchange

The Edge Singapore
The Edge Singapore4/1/2022 12:27 AM GMT+08  • 10 min read
Broker's Digest: Yangzijiang Shipbuilding, Grab Holdings, SIA Engineering and Singapore Exchange
See what the analysts have to say on these counters.
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Yangzijiang Shipbuilding (Holdings)
Price target:
Citi Research “buy” $1.98
DBS Group Research “buy” $2.15

Share price ‘will re-rate’ upon successful spin-off
Analysts from Citi Research and DBS Group Research have kept their “buy” calls on Yangzijiang Shipbuilding (Holdings) (YZJ) after the component stock of the Straits Times Index announced that it had increased the share capital of its proposed fund management and investment business to $4.3 billion. The analysts also believe that YZJ’s share price will re-rate following the successful completion of the proposed spin-off.

On March 25, YZJ said that it had increased the share capital of Yangzijiang Financial Holding (YZJFH), the entity that will soon be spun off from YZJ, to $4.3 billion comprising 3.95 billion shares, or $1.08 per share. YZJFH will be headed by Ren Yuanlin, former executive chairman of YZJ and father of current chairman and CEO Ren Letian.

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