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Express News | Fosun International Ranks Top 5% in S&P Global's Csa Among Global Peers
Lyon: Maintains FOSUN TOURISM "Outperform Market" rating, with the Target Price raised to 7.8 Hong Kong dollars.
Citi released a research report stating that it maintains the "Outperform" rating for FOSUN TOURISM (01992), indicating that the buyback plan is a high-premium privatization. The buyback valuation implies a PE of 22 times, thus maintaining the forecast for FOSUN TOURISM, while raising the Target Price to HKD 7.8. The report mentioned that the company previously announced on the Hong Kong Stock Exchange that it proposed to buy back its shares through an agreement arrangement at a cash price of HKD 7.8 per share, representing a 95% premium compared to the last closing price before suspension, involving approximately HKD 2.122 billion, intended to be funded through internal Cash / Money Market resources and/or external debt financing. After the plan takes effect, FOSUN INTL and SingHoldings will respectively hold.
Hong Kong stock movement | FOSUN INTL (00656) rose nearly 7% in the morning as FOSUN Tourism raised a premium of 95% for privatization. The company's shareholding ratio will exceed 98%.
FOSUN INTL (00656) rose nearly 7% in the morning session, and as of the time of writing, it is up 6.32% at 4.71 HKD, with a transaction volume of 38.1307 million HKD.
Fosun International: Listing Status of FTG No Longer Provides Meaningful Access to Capital
Fosun International: FTG to Finance Plan Via Internal Cash Resources And/or External Debt
Fosun International: Offer Represents 95% Premium to FTG Shares' Closing Price on Nov. 26
