[ET Net News Agency, 20 October 2020] Huatai Research lifted its target price for China
International Capital Corporation (CICC)(03908) to HK$20.2 from HK$17.72 and maintained
its "hold" rating.
CICC announced yesterday its A-share IPO, priced at RMB28.78 per share, issuing a total
of 459mn A-shares, and raising funds of RMB13.2bn. Despite the smaller size, the research
house appreciates the quick IPO implementation, which should quench CICC's imminent thirst
for capital.
However, Huatai thinks additional capital requirements could persist in order to support
the company's ambition of expanding market share. To reflect the smaller IPO than Huatai
previously assumed (and thus smaller short-term dilution) as well as CICC's strong growth
so far this year, the research house lifted its estimates for its weighted-average EPS for
2020-22 by 16.8%/16.5%/23%. (KL)
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03908 CICC
Nominal 
8.640 0.000 (0.000%) Research Report
20/10/2020 10:49
{I-bank focus}Huatai lifts CICC (03908) to HK$20.2; "hold"
| Remark: | Real time quote last updated: 24/04/2024 08:48 |
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