Daifuku maintained the purchase rating of Bestar Holdings (1168.HK), with a target price of HK$1.97, a 30% discount on net asset value. According to Daifuku, Bestar Holdings announced earlier this month that it would place 290 million shares at a price of HK$1.87 per share through the old and new methods. After complete dilution, Daifuku's forecast for Bestar's net asset value per share will drop slightly from HK$2.90 to HK$2.82. Daifuku pointed out that as of mid-2009, Bestar still had net cash of HK$2.7 billion. Daifuku said that since all of the company's existing projects will be completed in the next 3 years, the real estate developer is in a hurry to replenish land reserves and may have set some goals. Bestar Holdings closed at HK$1.64 yesterday.