[ET Net News Agency, 17 November 2017] Citi Research lowered its target price for Wharf
(Holdings) (00004) to HK$41 from HK$100, and maintained its "buy" rating.
The research house reiterated its view that after spinning off Wharf REIC (01997) for
separate listing on 23 November, the remaining Wharf Group could become a privatization
candidate of Wheelock (00020) in a potential step 2 reorganization.
Citi said Wharf's new business strategies significantly overlap Wheelock's, with both
focusing on HK development properties. Given that Wharf now has a much smaller market cap
post distribution of Wharf REIC, it thinks it would be easier for Wheelock to take it
private and make the combined Wheelock-Wharf Group a developer of HK and China properties.
On rising privatization expectations, Citi believes Wharf will trade at a narrower NAV
discount. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00004 WHARF HOLDINGS
Nominal 
19.000 -0.540 (-2.764%) Others
17/11/2017 15:01
[I-bank focus]Citi lowers Wharf (Holdings) (00004) to HK$41
| Remark: | Real time quote last updated: 19/09/2024 17:59 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |