QUICK NOTE: China Brokers Share Issuance: CITIC Secs gets CSRC OK to issue US$6bn
While not unexpected, the train chugs on....China brokers continue to issue equity, and launch IPOs.After GF Securities (1776 HK) launched a US$4bn...
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Hong Kong's Future? 3 structural bears for retailer/tourism
Street observers are blaming the slow down in visitor traffic from mainland as a result of the pro-democratic Occupy Central, increasing tension...
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Bright Smart (1428 HK): An Attempt to Derive a Value
​Bright Smart benefits from Ant Financial's technology and customer base, with potentially faster-than-forecast growth. At a 50% 5-year growth and...
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Bright Smart (1428 HK): To Sell or Not to Sell?
​Ant Financial's attractive offer price of HK$3.28 for Bright Smart is appealing relative to peers, and is at a good premium to historical P/B and...
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Bright Smart Securities (1428 HK): Ant’s Possible Unconditional MGO at HK$3.28
The Chairman is selling out to Ant at a knockout price (HK$3.28). Completion will trigger an unconditional MGO. Timing is the key risk, which is...
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