Remain optimistic on deal outcome, improving return profile, reiterate Core BUY.We see the likelihood of the deal happening as high and expect a positive outcome by end of this year orearly next year. We expect a share swap of 2.23 KCBK shares for 1 MARK share and play it via KCBK, given 55% P/tNAV discount. Key downside risk stems for potential PPA adjustments given uncertainty after COVID. Weexpect c.USD 43m (c.7 days) of passive inflows from a larger weight in MSCI EM Standard Index and c.USD 23m (c.4 days) of inflows from FTSE trackers for MARK from KCBK acquisition. © Copyright 2020,Arqaam Capital Limited. All Rights Reserved.


والتقرير يشير الى تدفق مالي بمبلغ 250 مليون ريال يستهدف الخليجي والريان قبل الاستحواذ من ام سي اي اي وفوتسي
ومستهدف لبنك الخليجي عند سعر 2.50
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