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<Research>M Stanley Expects CK ASSET (01113.HK) Shr Price to Rise in Next 60 Days; Potential Shr Buyback After Asset Sale
Recommend 4 Positive 7 Negative 2 |
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Morgan Stanley estimated that the share price of CK ASSET (01113.HK) will ascend in the next 60 days, because of the company's announcement of selling its UK Power Networks assets for GBP10.5 billion, which is at a premium to the RAV. If the transaction is completed, the group will chart a gain of HKD8.4 billion, with net proceeds amounting to HKD22.2 billion, potentially turning the company into a net cash position by the end of this year. After selling the UK Power Networks, the group may conduct a share buyback. Besides, the successful launch of the Kai Tak project Victoria Blosson and improved leasing at Cheung Kong Center II could further catalyze the share price. CKA was Morgan Stanley's top pick in the Hong Kong property sector, with a target price of HKD57 and a Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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