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
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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