[ET Net News Agency, 23 July 2020] Daiwa Research lifted its target price for Kunlun
Energy (00135) to HK$6.8 from HK$5.7 and maintained its "buy" rating.
The research house sees Sinopec Kantons' (00934) announcement of its YJ Pipeline
spin-off to PipeChina at a 1.43x 2019 PBR as a positive catalyst for Kunlun, which owns
the SJ Pipeline that is also due to be transferred to PipeChina.
The SJ Pipeline was injected into Kunlun in 2013 for CNY18.9bn, Daiwa estimated Kunlun
would need to dispose of its SJ Pipeline at a 41% premium to avoid a disposal loss. It
valued the assets at CNY25.6bn (CNY3.2/share). Daiwa also believes a special dividend to
appease minority shareholders is likely. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00135 KUNLUN ENERGY
Nominal 
7.270 +0.040 (+0.553%) Others
23/07/2020 14:12
{I-bank focus}Daiwa lifts Kunlun Energy (00135) to HK$6.8
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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