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<Research>HTSC Keeps Buy on GF SEC as Refinancing Supports Capital Expansion & Internationalization
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GF SEC (01776.HK) recently announced a proposal to raise over HKD6 billion through an H-share placement and the issuance of zero-coupon convertible bonds, with all proceeds to be used for capital increase in its overseas subsidiaries, according to Huatai Securities' research report. If successful, this fundraising will effectively strengthen GF SEC's capital base, facilitating deeper expansion into international markets and potentially elevating its operational performance and industry ranking to new heights. Considering that the refinancing is likely to enhance GF SEC's capital strength and international business competitiveness, Huatai Securities kept a Buy rating on the company but reduced its target price from HKD27.15 to HKD26.91. AAStocks Financial News |
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