[ET Net News Agency, 9 January 2020] DBS Group Research initiated coverage on GF
Securities (GFS)(01776) with a "buy" rating and a target price of HK$12.3.
The research house GFS has a balanced shareholding structure with no controlling
shareholder and de facto state-owned controller, ensuring stable governance and pure
market-oriented mechanism.
Its investment banking business is performing strongly as it chooses to serve companies
that are relatively small but with great prospects, achieving fourth place in the market
in terms of year-to-date underwriting volume. DBS believes the market-oriented mechanism
and unique servicing tradition will stand out in the more market-oriented STAR Market in
Shanghai. (KL)
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01776 GF SEC
Nominal 
7.480 +0.030 (+0.403%) Others
09/01/2020 18:01
{I-bank focus}DBS starts starts GF Sec (01776) at HK$12.3
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