According to a research report published by Lyon, after closing the market last Friday, Lingzhan announced that it plans to use the subscription price of HK$44.2 for each stock offering fund unit, five for one. The share price will be discounted by about 29.6% compared to the closing price of the day. The bank believes that although using equity rather than debt to finance the acquisition seems wise, this is still surprisingly negative news. The bank estimates that the offering of shares will dilute its book value per share by 7% and its distributable income per unit by 10%, but the acquisition of growing assets should help offset this impact. The bank raised its earnings forecast for the current and next two fiscal years by 0.9% and 11.4% respectively, and raised its earnings forecast for fiscal year 2025 by 21% to reflect the proceeds from the acquisition of Singaporean assets and shares. Due to the narrowing of the required yield due to the reopening, the bank raised its target price from HK$56.3 to HK$62, but due to limited room for improvement, the rating was lowered from outperforming the market to outperforming the market.