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Home / Capital / Brokers Calls

RHB keeps 'buy' call on Kimly with its latest acquisition

Broker's Calls

RHB keeps 'buy' call on Kimly with its latest acquisition

Samantha Chiew Published on Fri, May 14, 2021 / 4:14 PM GMT+8

RHB Group Research is reiterating its "buy" call on coffeeshop operator Kimly with a higher target price of 42 cents from 39 cents previously, following the group's announcement of its acquisition of a 75% stake in domestic food business Tenderfresh for $54 million, of which $16 million will be paid through a new share issuance at 31.24 cent per unit.

See: Kimly acquires 75% stake in Tenderfresh business for $54 mil