[ET Net News Agency, 14 December 2020] CLSA lowered its target price for Country Garden
Services (CGS) (06098) to HK$64.5 from HK$65.4 to factor in the dilution impact and
maintained its "buy" rating.
CGS has announced a new share placement raising about Rmb6.6bn at HK$45 per share. In
addition to potential commercial operation opportunities and M&As, the research house
expects the company to spend the cash on technology applications as well as the
exploration of new community VAS formats such as group purchase.
CLSA believes further equity fundraising within one year is unlikely unless cash
repayment is required for the Rmb3.6bn convertible bonds maturing in May 2021 plus
sizeable M&As. (KL)
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06098 CG SERVICES
Nominal 
4.910 +0.220 (+4.691%) Research Report
14/12/2020 17:47
{I-bank focus}CLSA lowers CG Services (06098) to HK$64.5
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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