Bank of America Merrill Lynch downgraded CITIC SEC (06030.HK) -0.380 (-2.023%) Short selling $22.97M; Ratio 29.345% 's
investment rating from Buy to Neutral, with target price cut from $21.2
to $20.3. The broker said the market's expectation that the
Shanghai-Hong Kong Stock Connect will bring positive effect to the
company's long-term prospect should have reflected in its stock price.
The 2015e P/B is now standing at 1.7x, close to the historical high of
2x
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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