KUALA LUMPUR: KEB Bhd's upcoming ACE Market listing could support its longer-term growth as the property developer expands its landbank and launches new projects, although analysts differ on its earnings outlook and valuation.
RHB Research and TA Securities said the developer's established track record, project pipeline and in-house construction capabilities would support its business following the initial public offering (IPO).
However, RHB Research assigned KEB a fair value of 39 sen, representing an 11 per cent upside from its IPO price of 35 sen, while TA Securities valued the stock at 35 sen, implying no upside.
KEB, which focuses on affordable to medium-priced residential developments, is scheduled to list on Bursa Malaysia's ACE Market on Nov 16.
