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.
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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