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OCBC lowers Yangzijiang's TP to 95 cents to account for spin-off of investment arm

Felicia Tan
Felicia Tan4/22/2022 06:29 PM GMT+08  • 3 min read
OCBC lowers Yangzijiang's TP to 95 cents to account for spin-off of investment arm
Yangzijiang's NAV per share per share is expected to fall to about 87 cents after the spin-off. Photo: File photo
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The team at OCBC Investment Research has kept its “hold” recommendation on Yangzijiang with a lower fair value estimate to 95 cents from $1.75 previously.

The lower fair value estimate will account for the spin-off of its investment arm, Yangzijiang Financial Holding (YZJFH). YZJFH will be listed on the Singapore Exchange (SGX) on April 28. Yangzijiang will trade on an ex-entitlement basis from April 22 onwards.

Yangzijiang’s net asset value (NAV) per share is expected to fall to about 87 cents after the spin-off from its previous NAV per share of $1.96 or RMB9.16.

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