《大行》摩通:地产股短期或获利回吐 建议增持太古地产(01972.HK)领展(00823.HK)

阿斯达克财经
Jul 09, 2025

摩根大通发表报告,指恒地(00012.HK) 产提议发行80亿港元的可转换债券(CB)。鉴于近期股价表现强劲,此次融资或许并不完全意外,但选择可转换债券略为令人意外,因为这在香港地产公司中并非常用方式。鉴于其低成本(0.5%的票面利率),该行认为这可能促使其他发展商(即使是财务状况较好的公司)探索可转换债券作为降低平均融资成本的方式。对于股权融资(供股/配售),该行认为杠杆率较高(例如净负债率超过...

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