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RTNominal down4.540 -0.100 (-2.155%)
Research Report

30/10/2023 14:29

{I-bank focus}UBS lowers CITIC Bank (00998) to HKD3.58

[ET Net News Agency, 30 October 2023] UBS lowered its price target for CITIC Bank
(00998) to HKD3.58 from HKD4.1 and maintained its "neutral" rating.
The research house said there is increasing uncertainty about the bank's proposed equity
raising plan through rights issue (announced in Apr 2022), which is currently still
pending review and approval by the Shanghai Stock Exchange. The bank's board has approved
the extension of the effective period of the rights issue by further 12 months to Jun
2024. (RC)

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