As pointed out by Morgan Stanley, the third quarterly property EBITDA of MGM CHINA (02282.HK) +0.900 (+3.727%) Short selling $1.52M; Ratio 2.124%
recorded an increased of 1% seasonally to HK$1.774 billion, which was
significantly higher than the market estimates. The EBITDA margin
expanded by 140 bps quarter-on-quarter to 28.8%. Morgan Stanley lifted
the projected EBITDA in 2014-15 by 5%. The target price of MGM was
increased from HK$26.5 to HK$28, reiterating the rating of Overweight.
This was mainly due to the strong execution, solid long-term prospect
and attractive valuation of MGM. The stock is trading at 14.8x of 2015
projected P/E which was the second lowest among Macau gaming shares.
Hopewell Hold (00054) sells Hopewell Infr stake for $9.9B Hopewell Holdings (00054) has agreed to sell 2.055 billion shares of Hopewell Highway Infrastructure (00737) , representing 66.69% of the issued share capital of the company, to Shenzhen Investment International Capital Holdings Infrastructure Co. to HK$9.865 billion in cash, or HK$4.8 per share, which has a discount of 3.61% to the closing price of HK$4.98 per share on 29 December 2017. Upon completion of the deal, the purchaser and parties acting in concert with it will own a total of 66.69% stake in Hopewell Highway Infrastructure and the purchaser will be required to make an unconditional mandatory cash offer for all other issued shares of Hopewell Highway Infrastructure also at HK$4.8 per share. The total consideration of the offer will be HK$4.927 billion assuming full acceptance of the offer. The offeror intends to maintain Hopewell Highway Infrastructure's share listing following the close of...
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