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LINK REAL ESTATE INVESTMENT TRUST

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Link Real Estate Investment Trust : Intu shares tank as cash call falters

02/12/2020 | 01:21am EDT

INTU shares lost almost a third of their value yesterday after Link Real Estate Investment Trust (Reit) said it would no longer participate in the troubled retail landlord's £1bn emergency cash call.

It emerged on Monday that Link was in talks with Intu, which owns the Trafford Centre, over potentially becoming a "cornerstone" investor in the fundraising. But in an update to the stock exchange yesterday Intu said the Hong Kong-based trust had performed a U-turn and would no longer back the raise.

"Intu remains engaged with shareholders and potential new investors in relation to a proposed equity raise," it said in a statement.

A spokesperson for Link said: "Link remains interested in opportunities in the UK, but our negotiations with Intu have not reached an agreement."

City A.M. understands that Link still sees the UK as a key expansion market, with a more stable currency after the election adding to the attraction.

Intu's shares crashed following the update, and ended the day just over 30 per cent down at 12.12p, wiping £70m off Intu's market cap.

(c) 2020 City A.M., source Newspaper

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Financials
Sales 2021 10 752 M 1 385 M 1 385 M
Net income 2021 5 696 M 734 M 734 M
Net Debt 2021 29 512 M 3 801 M 3 801 M
P/E ratio 2021 28,6x
Yield 2021 3,68%
Capitalization 163 B 20 971 M 20 967 M
EV / Sales 2021 17,9x
EV / Sales 2022 17,4x
Nbr of Employees 1 064
Free-Float 99,9%
Chart LINK REAL ESTATE INVESTMENT TRUST
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Link Real Estate Investment Trust Technical Analysis Chart | MarketScreener
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Technical analysis trends LINK REAL ESTATE INVESTMENT TRUST
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Average target price 84,60 HKD
Last Close Price 78,20 HKD
Spread / Highest target 18,8%
Spread / Average Target 8,18%
Spread / Lowest Target -0,26%
EPS Revisions
Managers and Directors
NameTitle
Kwok Lung Hongchoy Chief Executive Officer & Executive Director
Man Keung Ng Director-Finance
Kok Siong Ng Chief Financial Officer & Executive Director
Nicholas Charles Allen Chairman
Max Wong Director-Operation & Projects
Sector and Competitors