In today’s briefing:
- Midea A/H Listing – Early Look – Probably Raising Acquisition Currency
- Champion REIT 2778 HK: Facing Multiple Headwinds, an Uphill Battle. Bearish
- Morning Views Asia: China Jinmao Holdings, China Vanke , Greentown China, Vedanta Resources
Midea A/H Listing – Early Look – Probably Raising Acquisition Currency
- Midea Group Co Ltd A (000333 CH), one of the world’s largest home appliance producers, aims to raise up to US$5bn in its H-share listing.
- Midea Group is one of the world’s largest home appliance manufacturing companies with a presence in over 200 countries. Its A-shares have been listed since 2013.
- In this note, we look at its past performance and other deal dynamics that might impact the listing.
Champion REIT 2778 HK: Facing Multiple Headwinds, an Uphill Battle. Bearish
- Champion REIT is facing multiple headwinds, including weakness in its office building due to upcoming office supply
- Its retail asset Langham is doing better post COVID, but not enough to offset the weakness in office
- DPU may continue to decline over time. Therefore we stay bearish until we see turn-around signal
Morning Views Asia: China Jinmao Holdings, China Vanke , Greentown China, Vedanta Resources
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
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