《大行报告》大摩港股投资者更熟悉阿里巴巴若来港上市可提升估值
摩根士丹利发表研究报告,指《彭博通讯社》引述消息透露,阿里巴巴计划重新来港作第二上市,初步集资额为200亿美元,并指最快於未来数周向联交所提交上市申请,而公司仍未证实相关传闻;该行指基於阿里巴巴现金充裕,倘若公司决定来香港作第二上市,估计主要考虑在如何於增强股东价值。
该行指,假若阿里巴巴来本港作双重上市,基於更多中国投资者可透过本港市场参与买卖阿里的股票,相信或可改善市场对阿里巴巴的估值水平,因投资者对阿里巴巴的业务更为熟悉。
大摩表示,维持阿里巴巴「增持」投资评级及目标价207美元,此按综合方式作估值,对其核心业务按现金流折现率作估值每股相当159美元、予旗下阿里云业务每股25美元估值、予其策略投资每股估值24美元。
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