SG : Elite Commercial REIT - Seeking potential listing on TISE

ECR has proposed the potential listing of its wholly-owned subsidiary Elite UK Commercial Holdings Limited on The International Stock Exchange (TISE). Successful TISE listing lowers income tax rate from 19% to 15% and eliminates capital gains tax in the UK, enhancing ECR’s distributable income, in our view. Reiterate Add with a higher DDM-based TP of £0.83.

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