报告名称：Hengan Intl. Alert(01044.HK)Proposed spin-off positive but insignificant
报告类型：港股研究
报告日期：2016-01-12
研究机构：德意志银行
股票名称：恒安国际
股票代码：01044
页数：1
简介：To spin off snacks business by distribution in species
Hengan announced that the company is considering to spin off its food and snacks business for a separate listing by way of introduction, to be implemented by distribution in species to shareholders. Upon completion, Hengan will cease to hold any interest in food and snacks business. The company believes that the spin-off will better position each of Hengan and the spun-off entity for growth in their respective lines of business.
Positive but insignificant
We like the move but it is insignificant to Hengan. Food and snacks revenue/operation profit was HKD1,535m/HKD115m in 2014, representing 6.4%/2.5% of Hengan’s total revenue/operating profit during the year.
下载地址：Hengan Intl. Alert(01044.HK)Proposed spin-off positive but insignificant
