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HongkongLand USD
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HKLand
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zhuge_liang
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08-Jul-2008 00:26
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Credit Suisse cuts Hongkong Land target to US$4.80 from US$5.50, maintains Outperform rating. Target price change part of wider review of Hong Kong property sector by broker; keeps sector at Market Weight, tips Hong Kong property market to correct by 10% for rest of 2008. Broker says stock is top pick among Hong Kong property players due to its exposure to office, retail rental sectors; "we believe that demand for office in Hong Kong''s Central will remain strong." Notes, increasing decentralizing trend but says, all soon-to-be vacated space estimated to have been taken up already. Adds, "the company''s exposure to the Hong Kong, Macau, Singapore and China property is likely to be a key earnings sweetener for FY09 and FY10." |
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zhuge_liang
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07-Nov-2007 12:53
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Hongkong Land rose after JPMorgan raised its investment recommendation for the stock to "overweight" from "neutral", citing rising property values in Hong Kong's central district. JPMorgan also raised Hongkong Land's price target to US$5.70 saying that that the property firm was a preferred play amongst property investors. "The stock is one of the key beneficiaries of the two-tier property market, especially for properties in Hong Kong Central," said JPMorgan analyst Lucia Kwong. |
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Nostradamus
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12-Oct-2006 12:31
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It rebounding from its steep fall yesterday after the market reacted to a block sale by an institutional investor, dealers said. Hong Kong Land was up US$0.02 on top volume of 145.182 mln shares, of which 138.06 mln shares were sold in block at US$3.70 when the market opened. A banker said the placement was made by an institutional investor and was arranged by JP Morgan. This was confirmed by Hong Kong Land spokesperson but details of the deal were not disclosed. "They matched the transaction on the exchange today," a dealer said. "The volume is quite low if not for the married deal." |
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Nostradamus
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11-Oct-2006 19:22
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It confirmed there was a block sale of its shares last night but declined to divulge details of the deal. A banking source earlier said a Hong Kong Land investor sold over 138m shares for US$511m in a placement arranged by JP Morgan. The shares were priced at US$3.70, according to the source. The source declined to name the seller. "Our brokers have confirmed to us that this sale took place last night," a Hong Kong Land spokesperson said. "Beyond that, It is a market transaction involving third parties and we aren't going to comment or speculate further," she said. |
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Nostradamus
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11-Oct-2006 10:57
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An institutional investor of Hong Kong Land Holdings Ltd is seeking to sell US$524m worth of shares in the company, South China Morning Post reported without citing any source. The unidentified seller offered to sell 138m shares of Hong Kong Land for US$3.68 and US$3.80, a discount of 4.52% to 7.54% from yesterday's closing price of US$3.98. The company is reputed as the biggest landlord in Hong Kong's central business district. |
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