Market Chatter: CTF Services in Talks With Yuexiu for $2 Billion Sale of Toll Roads

MT NewswiresJan 2 00:50 ET

Major brokerage rating丨Citi: Maintains "Outperform" rating for CHOW TAI FOOK with a Target Price of 8.6 HKD.

Citi issued a report stating that Bloomberg reported that CHOW TAI FOOK may sell its toll road project for 2 billion USD. Although there has been no official announcement, the bank estimates the transaction valuation based on a projected yearly profit of the road project at a PE of 10.6 times for the coming year, which is higher than the industry average of 7.8 to 9.8 times. If the price of 2 billion USD is confirmed, it will increase CHOW TAI FOOK's projected Net Asset Value (NAV) for the fiscal year 2026 by approximately 7%. CHOW TAI FOOK's current stock price is at a 42% discount to NAV. The bank currently maintains a 'Outperform' rating on CHOW TAI FOOK with a Target Price of 8.6 HKD.

Gelonghui FinanceJan 2 00:24 ET

NWS Extends Long Stop Date of Unit's Acquisition Deal

MT NewswiresDec 19, 2024 07:12 ET

NWS Holdings Renamed as CTF Services

MT NewswiresDec 19, 2024 01:06 ET

NWS HOLDINGS: Starting from January 2, 2025, the Chinese stock abbreviation will be changed to "CHOW TAI FOOK CREATION."

NWS HOLDINGS (00659) announced that after the Shareholder approved the change of company name at the Annual General Meeting, in accordance with the certificate of name change and secondary name certificate issued by the Director of the Bermuda Company Registry on November 25, 2024, the company's name has been changed from "NWS Holdings Limited" to "CTF Services Limited," and "CHOW TAI FOOK 创建有限公司" has been adopted as the secondary Chinese name, all effective from November 22, 2024. The Director of the Hong Kong Companies Registry issued the registration on December 6, 2024.

Sina Hong Kong StocksDec 18, 2024 23:46 ET

NWS HOLDINGS (00659.HK) intends to rename itself "CHOW TAI FOOK CREATION".

On December 19, Gelonghui reported that NWS HOLDINGS (00659.HK) announced that after the Shareholder approval at the annual general meeting to change the company name, according to the Certificate of Change of Name issued by the Registrar of Companies in Bermuda on November 25, 2024, the company name has been changed from "NWS Holdings Limited" to "CTF Services Limited", and "CHOW TAI FOOK Creation Limited" has been adopted as the secondary Chinese name, effective from November 22, 2024.

Gelonghui FinanceDec 18, 2024 23:11 ET