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《大行報告》摩通:瑞聲(02018.HK)建議分拆光學業務 維持「中性」評級
阿思達克 12-28 10:17
摩根大通發表的研究報告指,瑞聲科技(02018.HK)公布擬分拆光學業務於內地上市,並帶動上周四(24日)股價向上,而公司將提供更多IPO資訊包括是規模、時間表及鎖定期等,該行不認為分拆光學業務將改變公司平庸的基本面,相信對其光學業務感興鼓的投資者會直接在A股市場投資其光學業務,並有機會一定程度減持在母公司的持股,維持對瑞聲「中性」評級,目標價48元。

該行指出瑞聲擁有光學業務80%以上的權益,但非其全資擁有,而相關公司主要進行光學產品研發、生產及銷售,公告指光學業務將透過股權激勵計劃發行1.35億股獎勵股份,令瑞聲在其持股由82%降至80.4%。

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