KUALA LUMPUR (April 11): MIDF Research raised its target price (TP) for YTL Power International Bhd (YTLP) by 20% to 96 sen to reflect cash proceeds from the ElectraNet sale. Against a book value of A$258.2 million, the sale translates into a sizeable gain of RM2.2 billion, it added. The sale transaction values ElectraNet at a generous enterprise value of 1.6 times its regulated and contracted asset base,” it noted. YTLP shares are currently trading at 76 sen, down 1.5 sen or 1.94% from 77.5 sen at the close last Friday. Read also:YTL Power to dispose of entire stake in Australia’s ElectraNet for RM3 bil

Source: The Edge Markets April 11, 2022 08:44 UTC