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.
UCD (01599) plans to raise Rmb600m from A shares issue Beijing Urban Construction Design & Development Group (UCD) (01599) said it proposes to apply for initial public offering of Renminbi ordinary shares and listing. The number of public issuance of shares amounts to not more than 149.86 million shares. The issuance price of A shares shall not be lower than Rmb2.91 per share. The total proceeds raised from the issuance of A shares amount to Rmb600 million, which will be used for upgrading and reconstructing project of the design centre, the national engineering...
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