HSBC pointed out that the third quarterly recurring profit of COSCO PACIFIC (01199.HK) +0.040 (+0.395%) Short selling $591.80K; Ratio 1.458%
increased 8% to US$87 million year-on-year, which was 4% lower than
estimates. The strong terminal business performance was offset by a weak
leasing business. HSBC lowered the projected earnings of Cosco Pacific
in 2014 to 2016 by 4%. It also expected the CAGR of the company in 2014
to 2016 will be 11%. The target price of Cosco Pacific was dropped from
$13.1 to $12.5, maintaining the rating of Overweight.
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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