SINGAPORE (Oct 17): RHT Health Trust remains attractive to CIMB after its recent divestment. The research house has an “add” call and target price of $1.11.

In a Friday flash note, lead analyst Lock Mun Yee noted that the divestments of 51% in compulsorily convertible debentures in Fortis Hospital and 100% compulsorily convertible preference shares in Escorts Heart Institute and Research Centre to Fortis Healthcare has been completed for net proceeds of $198.5 million.

RHT Health Trust plans to distribute from the net proceeds, a special distribution of 24.8 cents per share to shareholders. Book closure date is slated for Oct 27 with payment on Oct 28. This one-off distribution is on top of income distribution expected for 1HFY17, highlights Lock.

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