-
Nomura lowers ENN Energy (02688) to "neutral"
Nomura lifted its target price for ENN Energy Holdings (02688) to HK$58.5 from HK$56.9,
 but downgraded its rating to "neutral" from "buy".
  The research house said it is positive on the fundamentals for ENN Energy, but the 
downgrade and 2017 earnings forecast cut by 3% reflect higher convertible bond (CB)
settlement costs.
  As the stock price rose by 15% over the past two months and is now 18% higher than the 
exercise price of HK$47.73, Nomura estimated CB cost to increase by 165% to CNY602mn (or 
CNY0.56/share) from CNY227mn (CNY0.21/share) previously.
  Nomrua believes that the market is neglecting the near-term earnings impact from the CB
settlement. Hence, it advised that investors wait for a better entry point after all the 
CBs are settled

Comments

Post a Comment

Popular posts from this blog

-
Image
China VAST Industrial Urban Development Company Limited (06166.HK) - Summary    Summary       Company Info       IPO Info       Industry Comp       Financial Comp       Related News       Profit & Loss       Cash Flow       Balance Sheet     China VAST Industrial Urban Development Company Limited IPO Timetable Application Period 2014/08/13 - 2014/08/18  Fixed Date 2014/08/18  Announcement Date 2014/08/22  Refund Date 2014/08/22  Listing Date 2014/08/25  Basic Company Information Listing Market The Stock Exchange of Hong Kong (Main Board)  Industry Property Development  Background Others Major Business Area The PRC  Website http://www.vastiud.com   IPO Info Lot Size 1000  O...
Read more
-
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...
Read more
-
New Sports (00299) to buy Shenzhen residential apartments [Nomad Investors]  New Sports Group (00299) said it agreed to purchase a total 56 residential apartments situated at Nanshan District, Shenzhen, the PRC at   Rmb421 million.    The properties have a total floor area of about 6,342.3 square metres. The land use  right of the properties commenced on 23 October 2012 and will end on 22 October 2082.
Read more