** Shares of construction and services firm Kier Group drops 10% to 179.7 pence
** Kier has sounded out advisers about the potential to sell the division, which is understood to be valued at between 100 mln pounds and 150 mln pounds, The Times reported here
** “At face value, the amount quoted of 100 mln pounds to 150 mln pounds would be disappointing for the whole business and compares to management’s own assessment of the value of Residential at FY 2018 of 291 mln pounds,” analysts at Liberum say
** Liberum: “We would add that Kier is probably considering selling its Property business, or at least accelerating Property disposals”
** “However, events are moving fast and disposals are likely to be complicated, given the JVs in Property and Residential, they will be very dilutive” - Liberum
** Co last week warned on profit and raised fears of a dividend cut and another fundraising after a share issue got scrapped last year. Shares dropped 40% on the day of the warning.
** Stock bottom of FTSE midcap index (Reporting by Justin George Varghese in Bengaluru)