CH INV FIN GP (01226.HK) 0.000 (0.000%) announced that the Company and the subscriber had entered into an agreement, and accordingly the subscriber has conditionally agreed to subscribe for the Company's issued 43,000,000 shares at the price of $0.345 per share, representing a discount of 5.5% against the last closing price. The net proceed is estimated at $14.78 million, which is intended for general working capital.
CLSA lowers Beijing Ent Water (00371) to HK$6 CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating. The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not necessarily bad. CLSA cut its 2018-19 earnings forecasts by 19%. At the current level, it believes many of the negatives are already priced-in.
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