Raffles Edu

Raffles Edu +4.7% to $0.335, taking its ytd rise to 31.4% with 34m shares traded. BNP analyst reckons recent rally has come on the back of potential positive news flow from the Oriental University City (OUC) devt after RLS indicated that it had identified a property developer to co-develop the OUC land to monetise its $394m investment. The group could reap substantial returns if it is able to successfully develop the 280k sqm residential site within OUC.