GLONGHUY June 28丨Bank of China International's research report on the 27th pointed out that Chow Tai Fu's company raised a premium of 14.5% to buy all new businesses, and New World Development (0017.HK) cashed out nearly HK$21.8 billion and plans to pay 4 billion yuan in special interest. The bank believes that selling non-core assets during a cycle of rising interest costs can strengthen the financial situation of New World Development in real time, while at the same time allowing New World Development to focus more on property development, property investment, and property-related core business. Also, since Shinsekai's current stock price has a large discount compared to its net asset value, selling newly created equity and distributing special dividends can unlock value for shareholders. Maintain the purchase rating and target price of HK$33.3.
研报掘金丨交银国际：新世界发展出售新创建权益并派发特别股息可为股东解锁价值，维持“买入”评级
Research Report Nuggets | BOB International: New World Development sells newly created equity and distributes special dividends to unlock value for shareholders and maintain “buy” ratings
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