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<Research>UBS: CKH HOLDINGS (00001.HK) to Introduce CN Investors to Port Transactions w/ TP $58.8, Rating Buy
Recommend 11 Positive 36 Negative 16 |
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CKH HOLDINGS (00001.HK) announced that the exclusive negotiation period for the port transaction has expired, according to UBS' research report. The Company is still in discussions with the consortium, and may introduce a major strategic investor from mainland China. To meet regulatory approval requirements, the consortium's membership structure and transaction structure need to be adjusted. The Group planned to set aside sufficient time for related discussions to achieve a new arrangement. UBS previously estimated that the port transaction would increase the Group's net asset value (NAV) by $9.6 per share, compared with the share price of $38.65 before the port transaction announcement. At the current price of $53.45, it implies that the market expected a return to shareholders of $5.2 per share. Therefore, the broker rated CKH HOLDINGS at Buy, with a target price of $58.8. AAStocks Financial News Website: www.aastocks.com |
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