Sigma has announced an additional development partnership with Keepmoat, complementing pre-existing relationships. The partnership will focus on the delivery, funding and letting of family homes with Keepmoat aspiring to build over 5,000 units, valued at £800m, by 2021. We leave our forecasts unchanged, modelling funding bandwidth which remains unchanged. We see a 130p/share intrinsic valuation, which increases to 160p/share on utilisation of additional balance sheet capacity.
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New strategic partnership with Keepmoat
- Published:
03 Jun 2016 -
Author:
Andrew Watson -
Pages:
4
Sigma has announced an additional development partnership with Keepmoat, complementing pre-existing relationships. The partnership will focus on the delivery, funding and letting of family homes with Keepmoat aspiring to build over 5,000 units, valued at £800m, by 2021. We leave our forecasts unchanged, modelling funding bandwidth which remains unchanged. We see a 130p/share intrinsic valuation, which increases to 160p/share on utilisation of additional balance sheet capacity.