Credit Suisse stated in its report that the third quarterly results of CHINA RAILWAY (00390.HK) -0.090 (-1.860%) Short selling $11.55M; Ratio 17.996%
was in concordance with estimates. The revenue was increased steadily
during the period, with a year-on-year growth of 13%. As benefited by
improving profit margin on railway and metro business, the overall
profit margin hedged up 1 percentage point to 8.3%. The broker
considered that the supportive governmental policies of the PRC
government and improving financial management will enhance the stable
earnings growth of China Railway. The target price was lifted from $5.05
to $6.2 correspondingly, maintaining the rating of Outperform.
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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