While maintaining a “buy” rating for CapitaLand, RHB Securities has raised its target price for the property developer to $4.40 from $4.25 previously.

This comes after CapitaLand released its scheme document on July 17 – outlining details of the proposed restructuring of its businesses into two companies.

RHB says the scheme document has led it to be more positive on the restructuring exercise.

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