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<Research> Citi: CHINA RES LAND (01109.HK) Plans to Spin Off Two Shopping Malls via REIT, Named Sector Top Pick
Recommend 4 Positive 3 Negative 1 |
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Citi released a research report stating that CHINA RES LAND (01109.HK) plans to spin off two of its shopping malls and convert them into a REIT, expecting to raise approximately RMB5.4 billion. CHINA RES LAND will subscribe to about 20% to 30% of the REIT. The bank noted that the spin-off of the two malls is expected to boost earnings and dividends. It believes CHINA RES LAND has the capability, through the REIT platform, to realize its plan to recycle five to six shopping malls, involving a value of RMB10 billion to RMB15 billion. Citi named CHINA RES LAND as its top pick in the sector, with a Buy rating and a TP of HKD35.8. (sl/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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