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<Research>CLSA: CK ASSET Has Never Distributed Special Div.; Proceeds from Sale of The Center Used for Acquisitions, Shr Buybacks, Stable Div. Hike
Recommend 9 Positive 22 Negative 14 |
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CK ASSET (01113.HK) announced that it has signed an agreement to sell a 20% stake in UK Power Networks to a single buyer, along with a 40% stake in CKI HOLDINGS (01038.HK) and a 40% stake in POWER ASSETS (00006.HK), CLSA published a research report saying. The base consideration was $22.15 billion, with potential sale gains amounting to $8.4 billion. The transaction is still subject to regulatory approval. The unexpected disposal brings a potential gain of $8.4 billion, equivalent to 59% of the current forecasted net profit for FY2026. CK ASSET has never distributed special dividends since its listing, CLSA noted. The proceeds from the $40 billion sale of The Center in 2017 were subsequently used for acquiring a UK office (which were later sold) and infrastructure projects (such as the 20% stake in UK Power Networks), conducting opportunistic share buybacks and steadily increasing dividends. AASTOCKS Financial News Website: www.aastocks.com |
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