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<Research>BofAS Keeps Buy Rating on LEAPMOTOR (09863.HK), Expects Shr Sale to FAW to Dilute Shareholder Equity by 5%
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BofA Securities issued a research report keeping rating at Buy for LEAPMOTOR (09863.HK), based on stronger sales growth and overseas expansion, benefiting from a robust vehicle cycle and collaboration with Stellantis, with a target price of $90. On Monday (29th), the Company announced that it conditionally agreed to issue 74.8 million shares to FAW Group at a price per share of RMB50.03, implying that existing shareholder equity will be diluted by 5%, the broker noted. Moreover, on Sunday (28th), the Company launched its first MPV D99, which will officially go on sale next year, targeting the high-end MPV market and competing with LI AUTO-W (02015.HK)'s MEGA and Denza D9. AASTOCKS Financial News Website: www.aastocks.com |
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