China Conch Venture Holdings

Conch Venture (586 HK): Another Spin-Off in the Pipeline

Equity Bottom-Up
323 Views, 10 May 2022 08:05
EXECUTIVE SUMMARY
  • Following listing of China Conch Environment (587 HK), China Conch Venture (586 HK) is seeking a spin-off of CV Green Energy in A-share market and we view this move positively.
  • Limited details are currently available, but we think CV Green Energy, which operates WTE businesses, will trade at significantly higher multiples than its Hong Kong peers. 
  • Assuming CV Green Energy to hold all Conch Venture's WTE businesses, we estimate the IPO will boost the latter's sum-of-the-parts value by 8% or HK$2.14 per share.
detail (3-minute read)
WHAT’S TRENDING
Insights
  • Trending
  • Latest
logo
Logo
Top Quartile
Osbert Tang, CFA
China Analyst - Onshore Credit, Equity Long-Short
Hong Kong & ChinaIndustrials & UtilitiesEquity Bottom-UpThematic (Sector/Industry)

Osbert Tang is an equity analyst with over 20 years of experience with focuses on China transport, infrastructure, indus... 

Zoom:
NaN%
x