OCBC suggests partial sale of KepLand shares as a hedge

Singapore

WITH a week away from the offer deadline, OCBC Investment Research is recommending that Keppel Land (KepLand) shareholders divest part of their holdings in the market at the "somewhat rich" price of S$4.54 to S$4.55.

This is to "hedge out" the risk of the offer not reaching the 90 per cent acceptance level, thus relegating it to the lower offer price of S$4.38 (versus S$4.60).

To be sure, most investment analysts, including OCBC's Eli Lee, bel…