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<Research>BofAS: If A.S. Watson Successfully Lists, Valuation May be Way Above Current Estimates; CKH TP $62 w/ Buy Recommendation
Recommend 11 Positive 13 Negative 4 |
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CKH HOLDINGS (00001.HK)'s subsidiary A.S. Watson Group plans a dual listing in Hong Kong and London, potentially as early as the second quarter, BofA Securities, citing market news, said. The company's valuation is approximately USD30 billion, with the IPO possibly raising USD2 billion. If successful, A.S. Watson's valuation will considerably exceed the current valuation used by the broker to estimate CKH's NAV for FY2026. The broker maintained a Buy rating on CKH, expecting solid performance for FY2025 and considering its current valuation attractive, especially as the company appears to be more open to value-unlocking actions. The target price was set at HKD62. AASTOCKS Financial News Website: www.aastocks.com |
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