Morgan Stanley said PETROCHINA (00857.HK) -0.190 (-1.931%) Short selling $227.82M; Ratio 22.681% 's
6% year-on-year drop in its third-quarter profit is in line with the
expectation. The research house still believed it is a perfect time to
collect the company's shares as its share price has bottomed, which
reflected the pressure of declining oil price. In addition, the price
increase in fuel gas in Mainland and the company's capex reduction will
bring long-term positive impact on the stock price. The Overweight
rating was maintained for the stock.
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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