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Investors in China Tower (HKG:788) Have Unfortunately Lost 24% Over the Last Five Years
[Brokerage Focus] Goldman Sachs raises the target price of China Tower (00788) by 0.9%, expecting stable revenue growth of around 4% next year.
Goldman Sachs issued a research report stating that China Tower (00788) announced on November 21st a plan to implement a stock consolidation (combining 10 shares into 1) and capital reduction. This proposal is pending approval at a special shareholder meeting and therefore is not reflected in our estimates. The bank points out that the proposed capital reduction is beneficial for its long-term dividend payment prospects. According to current regulations, China Tower needs to retain 10% of its net income as statutory reserves until the reserve balance reaches 50% of the registered capital. This means that before meeting the reserve requirements, 90% of its net income can be distributed as dividends. With the capital res
China Tower rose 3% in early trading and plans to conduct a "10-for-1" share consolidation and reduce its capital.
China Tower issued an announcement, the board of directors proposed to combine every 10 existing shares with a par value of 1.00 yuan per share into 1 share with a par value of 1.00 yuan per share, as well as a reduction of shares.
China Tower Plans Share Consolidation and Capital Reduction
China Tower (00788) plans to perform a "10-for-1" share consolidation, reduce share capital and change the trading unit per lot.
China Tower (00788) issued an announcement, and the board of directors suggested a distribution of existing... for every 10 shares at a par value of RMB 1.00 per share.
Express News | China Tower- Proposed Share Consolidation on Basis Every 10 Shares With Par Value of RMB1.00 Be Consolidated Into 1 Share
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