UOB Explores Market Interest for One Raffles Place Stake

UOB ( (SG:U11) ) has shared an update.

United Overseas Bank has confirmed that it is working with OUB Centre Limited to gauge market interest for iconic commercial property One Raffles Place in Singapore, following media reports suggesting a potential multi-billion-dollar sale. OUB Centre Limited owns the asset, with UOB holding 18.46% of the beneficial interest in trust and a further 8.15% indirect stake via its shareholding in OUB Centre.

The bank cautioned that there is no certainty any binding agreement or transaction will result from this exploratory exercise and said it will decide on next steps based on the outcome and the best interests of shareholders. UOB pledged to make further disclosures through SGXNET in line with Singapore Exchange rules and urged shareholders and potential investors to exercise caution when dealing in its shares and to seek professional advice where necessary.

The most recent analyst rating on (SG:U11) stock is a Hold with a S$41.00 price target. To see the full list of analyst forecasts on UOB stock, see the SG:U11 Stock Forecast page.

More about UOB

United Overseas Bank Limited is a Singapore-based financial institution that provides banking and financial services across Asia and other key global markets. The bank focuses on commercial and retail banking, wealth management, and corporate services, maintaining a significant presence in regional financial centres including Malaysia, Thailand, Hong Kong, and China.

Average Trading Volume: 2,939,716

Technical Sentiment Signal: Buy

Current Market Cap: S$63.45B

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