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瑞銀料中美關係緊張無阻中資企業赴美上市
阿思達克 12-08 16:06
瑞銀投資銀行亞太區主管暨中國總裁金弘毅表示,在政治不確定性下中資企業依然會考慮到美國上市,年內便有陸金所(LU.US)及金山雲(KC.US),認為美國投資者更了解部分行業情況,給予估值亦更高,例如新能源汽車可參考Tesla(TSLA.US)的估值,因此近年有不少中國新能源汽車製造商到美國上市。

香港市場方面,他指出,今年香港股市主要受美國中概股回流及上市公司配股、可換股債券發行所支持,預期未來繼續有醫療健康、生物科技、消費、物管及科技行業的新股在港上市,中概股回流香港作第二上市以及中資企業赴美上市的趨勢亦會持續。

疫情限制下,今年併購活動大減,瑞銀全球投資銀行部亞洲併購部主管盧穗誠指,封鎖政策所限今年全球併購交易及中國企業海外併購宗數料創新低,但預期會持續有外國公司將中國子公司分拆出售,企業積極出售非核心資產以減債,近期也有不少私有化計劃出現,認為市場活躍度未減。他又指,國企重組不受疫情影響,今年中石油(00857.HK)及中石化(00386.HK)便將資產售予國家管網集團,估計明年仍可見到類似重組計劃。

至於中資企業海外併購,瑞銀明年會出現更大幅度反彈。盧穗誠解釋,國內疫情緩和,較歐美市場復甦得快,目前交易價格回落至較合理水平,已有中資企業向其透露,待歐美地區疫情回復穩定後便有意重啟收購計劃。

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