Australia's Tuas possibly fell due to major shareholder sell-down, Citi says

Tuas

26/03/2025 19:41

** Citi says it is perplexed by telco Tuas's TUA.AX stock losing ~7.5% on Wednesday, given co's strong report card

** Brokerage attributes drop to potential major shareholder sell-down, slowdown in quarterly mobile subscribers' growth and deterioration in mobile Average Revenue Per User (ARPU)

** Citi says slowdown could be due to seasonal factors such as timing of Chinese New Year and higher take-ups from senior customers diluting ARPU

** Says Singapore market's share growth trajectory for both Mobile and Broadband remains intact due to TUA's value proposition, brand awareness and customer satisfaction

** Reiterates 'buy' rating and target price of A$7.10 per share

** Stock down 8.8% YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))