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花旗:富力(2777.HK)配股規模較預期細 籲“買入”看18.6港元
格隆匯 12-23 13:11

花旗發表研報,指出富力(02777.HK)此次配售股份相當於擴大後股本約7.8%,相對股東會批准的20%,規模較較預期細,相信配股後短期股價威脅已消除,考慮到富力流動性壓力減少,以及明年銷售情況或受舊改項目帶動而有所改善,相信富力短期內將獲重估。

報告指,受廣州兩個城市更新項目所帶動,今年12月至明年首季料進賬50億元人民幣,明年可售資源增加約250億元人民幣,有助抵消今年土儲補充緩慢的影響。預期舊改項目若銷售去化率達到75%,明年銷售額可增長12%至1,520億元人民幣。

該行預計,富力配股將令明年度每股盈利攤薄7.8%,淨負債率則下降12個百分點至183%,給予“買入”評級,目標價18.6港元。

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