not vested
Jefferies: HAIDILAO Acquisition of JP Hotel Unrelated to Hot Pot Biz, May Distract Focus from Core BizJefferies issued a research report saying that HAIDILAO (06862.HK) announced the acquisition of a Japanese hotel project from Super Hi.
HAIDILAO share has plunged 9% on the same day of announcement, even though the investment amount was relatively small, as the deal was a connected transaction from the Company.
In addition, the acquisition is unrelated to its hotpot business in China and will involve additional investment capital, which may distract its focus from core business.
Jefferies kept rating at Hold for HAIDILAO, with a target price of $22.2.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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