UBS stated that CHINA OVERSEAS (00688.HK) -0.250 (-1.199%) Short selling $52.21M; Ratio 13.458% achieved 78% of annual sales target in October, which was decreased by 15 ppts compared with same period last year. It is believed that the decrease was due to the weak sentiment and structural oversupply in certain tier 2 and lower-tier cities. UBS expected that the group could achieve a year-on-year contracted sales growth of 5% in 2015. The target price of China Overseas was decreased from $25.8 to $23.81. The rating was maintained at Neutral
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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