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<Research>M Stanley: Privatization of Zeekr Enhances GEELY AUTO (00175.HK) Competitiveness; Rating Kept at Overweight
Recommend 27 Positive 57 Negative 24 |
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GEELY AUTO (00175.HK) announced the privatization of Zeekr (ZK.US), offering shareholders the option to receive either US$2.687 per share in cash or 1.23 consideration shares, Morgan Stanley released a research report saying. The acquisition price represents a 4.7% premium over the previous offer, involving a maximum total consideration of approximately US$2.4 billion (equivalent to about RMB17.2 billion) or nearly 1.1 billion shares. Morgan Stanley believed that the privatization will drive deep integration and synergy across GEELY AUTO's brands and reduce redundant investments, thereby further enhancing GEELY AUTO's competitiveness. Therefore, the broker kept rating at Overweight on GEELY AUTO, with a target price of $21. AASTOCKS Financial News Website: www.aastocks.com |
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