Morgan Stanley stated that CHOW TAI FOOK (01929.HK) +0.340 (+3.263%) Short selling $34.53M; Ratio 22.994% 's interim results was in line with estimates. The business was affected by the Central Occupy Movement in October but was improved in November despite the soft demand. Due to the slow down in business growth from the second half of 2014, the company adjusted the flat annual revenue target to single-digit decrease. The target price of Chow Tai Fook was cut from $13.4 to $12.4 and the rating was maintained at 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...
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