News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
 Content Sharing
<Research>Citi Expects CHOW TAI FOOK's CB Issuance to Pressure Shr Price in ST, Still Optimistic on Same-Store Sales Recovery
CHOW TAI FOOK (01929.HK) recently issued a convertible bond (CB) with a term of five years and a coupon rate of 0.375%, according to a Citi research report. Its initial conversion ...
Reset
Send
The window will close in 5 seconds
<Research>Citi Expects CHOW TAI FOOK's CB Issuance to Pressure Shr Price in ST, Still Optimistic on Same-Store Sales Recovery
Close
Recommend
2
Positive
2
Negative
0
 
SHORT SELL
 
STOCK INFO

CHOW TAI FOOK (01929.HK)  +0.400 (+3.145%)    Short selling $203.92M; Ratio 33.009%   recently issued a convertible bond (CB) with a term of five years and a coupon rate of 0.375%, according to a Citi research report. Its initial conversion price was HKD17.32 per share, representing a premium of around 26.2%.

The company will also initiate a share buyback concurrently to offset dilution. It expects to repurchase up to 122 million shares at a price of HKD12.83 per share.

Related NewsMacquarie Lowers CHOW TAI FOOK's TP to HKD14.1, Envisions Robust Earnings Growth in FY26
In Citi's opinion, the CB issuance was unexpected and may exert short-term pressure on CHOW TAI FOOK's stock price, but the low financing cost and reasonable premium are estimated to ease market concerns.

The broker remained upbeat about the recovery of CHOW TAI FOOK's same-store sales performance and its valuation recovery prospects. The funds raised will primarily be used for inventory financing of priced gold products, which is believed to optimize the financing structure.

Citi gave CHOW TAI FOOK a Buy rating with a target price of HKD14.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-18 16:25.)

Related NewsHTSC Upgrades CHOW TAI FOOK (01929.HK) to Buy, Expects Gold Lending Losses to Narrow

AAStocks Financial News
Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd, HKEx Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.