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<Research>Jefferies: ANTA SPORTS Acquisition of Puma May Require Another Large-Scale Shr Placement
Recommend 5 Positive 4 Negative 6 |
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Recently, ANTA SPORTS (02020.HK) is reported to have proposed an acquisition of Puma's 29% stake to France's Pinault family, a move Jefferies strongly opposed in a research report. In addition to diluted management resources, Jefferies believes the proposed acquisition will result in diluted shareholder returns, as ANTA SPORTS may need to conduct share placements or other large-scale financing activities to acquire the Puma stake. ANTA SPORTS will also be dragged down by Puma, as it is still challenging for Puma to turn profitable any sooner. Jefferies gave ANTA SPORTS a Hold rating and a target price of HKD95. AAStocks Financial News |
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