[ET Net News Agency, 29 June 2020] Daiwa Research estimated that KWG Group Holdings'
(01813) property management business, KWG Living, could achieve a market cap of
HK$10.1-12.2bn.
KWG said on 24 June that it has submitted a listing application form (A1) and targets to
complete the spinoff of its unit before the end of this year.
Using KWG Living's net profit of CNY185m in 2019 and applying 50-60x 2019 PER, which is
what most mid-cap China property management companies are trading at, Daiwa deduced the
market cap.
Daiwa maintained its "buy" call and HK$14.8 on KWG. It views KWG as one of the
high-quality names outside the popular ones which can gain further market interest. (KL)
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01813 KWG GROUP
Nominal 
0.290 +0.035 (+13.725%) Research Report
29/06/2020 10:56
{I-bank focus}KWG Living's market cap may reach HK$12.2bn
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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