Credit
Suisse initiated an Outperform rating on Alibaba with target price set
at US$114. The research house predicted that Alibaba's revenue CAGR for
the next three years would be around 37%, mainly driven by factors
including new products and service, profitability of business and
companies' synergy in its investment portfolio. The broker also believed
that Alibaba might enter various aspects of life of the general public,
and the investment of new business and Ant Financial would also provide
further upside potential for the group.
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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