《大行報告》花旗:新創建(00659.HK)獲提全購有助新世界(00017.HK)降低負債 惟關注未來可持續之派息水平
花旗發表報告指,新創建(00659.HK)獲周大福企業提全購。新世界(00017.HK)持有新創建60.9%股份,預計將在出售後套現218億元,同時管理層建議派付總額40億元特別股息,即每股1.59元。
花旗視交易為好的行動,認為可以在高利率環境下降低負債和加強資產負債表,惟擔心在出售新創建持股後,未來可持續的派息水平。該行認為,新世界管理層仍有迫切需要降低資本支出和促進物業銷售,以改善自由現金流為負的情況。花旗給予新世界目標價20.2元,評級「中性」。
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