Financial news
Written by: Zhang Weilun
2020-02-28 10:41
Last updated: 2020-02-28 10:42The Wu Guangzheng family announced yesterday that privatizing Wheelock (0020) in cash and stock, with a maximum price of 71.9 yuan. Wheelock shareholders hold 1 share of Wheelock shares, and each has 1 Wharf Group (0004) and Wharf Real Estate (1997) shares, and 12 yuan. Citi pointed out that the privatization plan has the biggest impact on Wakura, and it is related to the disappointment of many investors that Wakura has not been the target of privatization. It is expected that the price of Wakura will be under pressure.
Citi also pointed out that the chance of being privatized by Wharf has decreased significantly in the short term. It also pointed out that Wharf has the possibility of buying assets from Wheelock, or it may lead to a decrease in funds and further reduction of the chance of privatization.
Jiu Cang resumed trading this morning, opening 13.7% lower, the latest reported 16.62 yuan, down 15.6%, Jiu Chi latest reported 36.15 yuan, down 4.1%, Wheelock latest reported 61.6 yuan, down 6.7%.
In addition, Morgan Stanley pointed out that even though the increase in the circulation of nine stocks is good in the long run, the additional increase in the circulation of stocks will put pressure on the stock price. The bank's target price for Jiuchi is 40 yuan, and it continues to reduce its rating.
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Wheelock Wharf and Wharf Real Estate