Lee & Man Paper (02314) Shareholder Transfers HK$2.12 Billion Worth of Shares from BNP Paribas to UBS Securities Hong Kong

Stock News
10 hours ago

According to the latest data from the Hong Kong Stock Exchange, on February 3, a shareholder of Lee & Man Paper (02314) transferred shares from BNP Paribas to UBS Securities Hong Kong Limited. The transferred shares were valued at HK$2.12 billion, representing a 14.09% stake.

Citigroup recently issued a research report upgrading Lee & Man Paper's investment rating from "Sell" to "Buy." The target price was significantly raised by 75%, from the previous HK$2.4 to HK$4.2.

This adjustment is primarily based on the judgment that the profit cycle of the paper manufacturing industry has bottomed out and is gradually improving. Lee & Man Paper's current share price implies a forward price-to-earnings ratio of 8 times and offers a 4.2% dividend yield, presenting an attractive valuation.

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