Franshion Properties 0817

Franshion Properties 0817

Postby winston » Mon Jun 30, 2008 8:27 am

From Dr. Check:-

The firm is mainly engaged in the leasing of office and commercial premises and also provides property management services. It also operates hotels.

Franshion is an unit of Sinochem, a top chemical concern in the mainland. It has already bought a stake in the commercial property developer China Jin Mao Group - another subsidiary of Sinochem.

Currently, Franshion's acquisition of a stake in Shanghai Yin Hui - yet another property developer - is awaiting regulatory approval. Jin Mao owns stakes in several hotels in China, including Hilton Sanya Resort & Spa, JW Marriott Shenzhen, Ritz-Carlton Sanya and Westin Beijing, which have a total of 2,488 guest rooms.

It also owns part of the Jin Mao Tower - a Shanghai landmark.

Franshion has a land bank of about 500,000 square meters, enough to meet development needs for the next five years. Around HK$2.80, the stock looks attractive.

Not vested.
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Re: Franshion Properties 0817

Postby winston » Fri Jan 09, 2009 11:19 am

BROKER CALL-China's Franshion Properties target raised after Jinmao deal-Citi

BEIJING (XFN-ASIA) - Citigroup said it maintains its "buy" recommendation on Franshion Properties and has raised its target price to 3.66 hkd from 3.29 hkd following the property investment and development group's completed acquisition of China Jinmao Group.

Franshion completed the acquisition of the remaining 26.77 pct interest in Jinmao Group held by COFCO on January 5. It had acquired the 73.23 pct interest in the group held by China Minmetals on December 29, 2008. China Jinmao includes Shanghai's landmark Jinmao Tower and a luxury hotel portfolio with a total gross floor area of over 570,000 sq m.

The company should also be a key beneficiary of current market consolidation due to its unique geographical exposure, strong financial position and support from its parent, Citi said. The brokerage further said that Franshion is "one of the few domestic property companies with an excellent track record in investment property development and operation."

It added that Franshion has "clearly been defined" as the platform for its parent Sinochem Corp's property business, having injected assets including Sinochem Tower, Wangfujing Hotel, Chemsunny Plaza and China Jinmao Group since Franshion's IPO, and more are on the way. In Hong Kong Franshion was trading 0.03 hkd or 1.49 pct higher at 2.04 hkd.
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Re: Franshion Properties 0817

Postby winston » Wed Jul 22, 2009 11:31 am

DJ Franshion Properties, Hldr Raise US$248M In Shr Sale - Source

HONG KONG (Dow Jones)--Franshion Properties China Ltd. (0817.HK) and one of its shareholders have raised a combined US$248 million from a share offering, a person familiar with the situation said Wednesday.

Franshion and its parent Sinochem Corp. sold 768.9 million shares at HK$2.52 each, he said, adding that 60% of the shares sold were new shares. The offer price translates to a discount of 8% to Franshion's closing price of HK$2.74 Tuesday.

The company earlier set an indicative price range of HK$2.52-HK$2.63 for the sale.

Citigroup Inc. (C) and Deutsche Bank AG (DB) handled the share sale, the person said
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Re: Franshion Properties 0817

Postby winston » Wed Sep 16, 2009 7:57 am

Not vested. GS has a Sell on this counter.

=========================

From Dr. Check, The Standard HK:-

Let's take a look at Franshion Properties (China ) (0817), which develops, sells, leases and manages commercial and residential properties.

In the first half, Franshion made a net profit of HK$434 million, up 61 percent year on year. The basic earnings per share was 5.4 HK cents.

Last year it completed the acquisition of China Jin Mao (Group), whose Jin Mao Tower is a landmark in Shanghai.

Citigroup has set a target price of HK$3.49, a discount of 20 percent to its net asset value of HK$4.36.

Franshion's share price peaked at HK$6 in 2007. Then it reached its lowest - of HK$1.05 - last year. Currently at HK$2.44, it is seen as a medium-term pick.
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Re: Franshion Properties 0817

Postby winston » Wed Oct 14, 2009 7:37 am

Not vested. From Dr. Check, The Standard HK:-

Being a dedicated follower of Franshion good for the medium term

Mainland insurance companies may be permitted to acquire real estate.

China's insurance industry has total assets of about 3.7 trillion yuan (HK$4.2 trillion). If 5 to 8 percent of this is put into the property market, the investment will be huge.

Nothing has been finalized. But it may not be a bad idea to look at stocks of mainland commercial property owners. Franshion Properties (0817) is engaged principally in developing, selling, leasing and managing commercial and residential properties in tier 1 cities.

It is owned by Sinochem Corporation under the State Council.

Last year Franshion bought China Jin Mao (Group), owner of Shanghai's landmark Jin Mao Tower. Franshion's current debt-to-equity ratio is healthy at 39 percent.

Citigroup set a target at HK$3.49, a 20 percent discount to its 2009 net asset value of HK$4.36. Franshion fell from its peak of HK$6 in 2007 to a low of HK$1.05 last year.

It closed at HK$2.29 yesterday. It could be worth accumulating for the medium term.

http://www.thestandard.com.hk/news_deta ... 91014&fc=4
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