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.
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...
Comments
Post a Comment