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00175 GEELY AUTO
RTNominal up9.120 +0.210 (+2.357%)
Research Report

29/06/2020 10:25

{I-bank focus}Geely Auto seen to raise CNY34bn from A shares

[ET Net News Agency, 29 June 2020] Daiwa Research estimated that Geely Automobile
(00175) may raise CNY34bn from the CNY share issuance, by making reference to Great Wall
Motor (02333), whose A-share PER trades at a 60% premium to its H-share.
Geely announced on 24 June that its board has approved the proposed CNY share issuance
and its listing on the Sci-Tech Board. It plans to issue 1.73bn CNY shares.
Daiwa believes Geely's CNY share would have a similar or even higher PER premium. It
maintained its "buy" call and HK$16 on Geely. (KL)

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