Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Fosun International Limited    0656   HK0656038673

End-of-day quote. End-of-day quote  - 10/20
18.78 HKD   +4.33%
10/11 FOSUN INTERNATI : A giant is stirring
10/11 FOSUN INTERNATI : Stirring
10/08 FOSUN INTERNATI : Joint announcement - the proposed spin-off and sep..
SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Fosun International : Polyus to sell up to nine percent of its shares in London, Moscow offering

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/15/2017 | 12:20pm CEST
FILE PHOTO: A melter casts an ingot of 92.96 percent pure gold at a procession plant of the Olimpiada gold operation in Krasnoyarsk region

Russia's top gold producer Polyus (>> Polyus Zoloto OAO) will offer between 7 and 9 percent of its shares, including new shares, in its planned stock offer in London and Moscow, it said on Thursday as it set a price range.

Russia's top gold producer Polyus (>> Polyus Zoloto OAO) will offer between 7 and 9 percent of its shares, including new shares, in its planned stock offer in London and Moscow, it said on Thursday as it set a price range.

The price range was set at $33.25-$35.30 per global depositary share in London, corresponding to a price of $66.50-$70.60 per ordinary share in Moscow, Polyus said in a statement. The latter will be paid in roubles.

The company said the price range would result in a market capitalisation of between $8.5 billion and $9 billion on a pre-money, fully diluted basis, including treasury shares. Final pricing of the offer is expected on June 30.

Analysts said the price range looked attractive even though the timing of the offer, which is likely to test appetite for Russian assets and is the first major offering on the Moscow market in 2017, comes as Russian shares are hit by concerns about new U.S. sanctions and weaker oil prices.

"It is not the best moment for the placement, of course. It could significantly complicate the placement," said Kirill Chuyko at BCS Investment Bank.

Moscow's rouble-traded MICEX index <.MCX> hit its lowest level since March 2016 on Thursday after the U.S. Senate voted for new sanctions punishing Russia for meddling in the 2016 U.S. election.

Shares in Polyus, which is listed on the Moscow Exchange with a free float of 6.76 percent, were down 2 percent at 4,367 roubles ($75.9).

However, Polyus is a pure producer of gold, considered a safe haven during times of political and financial uncertainty, and its production costs are relatively low. Prices for the precious metal <XAU=> are near a three-weak low this week but up 10 percent this year.

Polyus delisted from the London Stock Exchange in late 2015 after Western sanctions over Moscow's role in the Ukraine crisis began to bite for Russian companies.

It returns to London buoyed by a recent $887 million deal to sell a 10 percent stake to a Chinese consortium led by Fosun International (>> Fosun International Limited).

The Chinese deal had valued Polyus at $70.6 per share, which is equal to the upper end of the price range for its share offer.

"Polyus looks attractive in this price range, the upper end of which coincides with the price of the previously announced deal with Fosun," Vadim Kotikov, analyst at Uralsib, said.

Polyus plans to raise $400 million from the sale of new shares and plans to use the proceeds to repay some of its debt and finance projects. Further proceeds from the sale of existing shares will go to its controlling shareholder, the family of Russian tycoon Suleiman Kerimov.

(Reporting by Polina Devitt and Diana Asonova; Editing by Katya Golubkova and Susan Fenton)

By Polina Devitt

Stocks treated in this article : Fosun International Limited, Polyus Zoloto OAO
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FOSUN INTERNATIONAL LIMITE
10/17 FOSUN INTERNATIONAL : Ironshore Hong Kong Introduces Legal Event Expense Cover t..
10/11 FOSUN INTERNATIONAL : A giant is stirring
10/11 FOSUN INTERNATIONAL : Stirring
10/08 FOSUN INTERNATIONAL : Joint announcement - the proposed spin-off and separate li..
10/07 FOSUN INTERNATIONAL : Gland Pharma to leverage Fosuns strengths for growth
10/07 FOSUN INTERNATIONAL : Promotion is key to all grand plans for Molineux
10/07 DALRYMPLE : Wolves' Premier League gamble
10/07 DALRYMPLE : Our Prem gamble
10/07 DALRYMPLE : Our Premier gamble
10/06 FOSUN INTERNATIONAL : Gland pharma to leverage fosun's strengths for growth
More news
News from SeekingAlpha
10/08 WEEK IN REVIEW : Fosun May Pay $350 Million For Second India Pharma Acquisition
09/19 Daily OTC Markets Round-Up - 9/18/2017
08/30 Fosun International reports 1H results
08/16 Why Cogint Is My Second Largest Holding
04/10 Strong Hopes For Tencent And 3 Other Investment Themes In My Portfolio
Financials ( CNY)
Sales 2017 76 770 M
EBIT 2017 8 734 M
Net income 2017 12 248 M
Debt 2017 68 202 M
Yield 2017 1,37%
P/E ratio 2017 10,88
P/E ratio 2018 9,85
EV / Sales 2017 2,67x
EV / Sales 2018 2,47x
Capitalization 136 B
Chart FOSUN INTERNATIONAL LIMITE
Duration : Period :
Fosun International Limite Technical Analysis Chart | 0656 | HK0656038673 | 4-Traders
Technical analysis trends FOSUN INTERNATIONAL LIMITE
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Average target price 17,1  CNY
Spread / Average Target 7,8%
EPS Revisions
Managers
NameTitle
Qun Bin Wang Chief Executive Officer & Director
Qi Yu Chen Co-President & Executive Director
Xiao Liang Xu Co-President & Executive Director
Guang Chang Guo Chairman
Can Wang Chief Financial Officer, Executive Director & SVP
Sector and Competitors
1st jan.Capitalization (M$)
FOSUN INTERNATIONAL LIMITED71.35%20 602
ARCELORMITTAL19.61%30 486
POSCO--.--%25 974
NIPPON STEEL & SUMITOMO METAL CORP2.51%22 401
NUCOR CORPORATION0.81%19 166
THYSSENKRUPP3.11%17 124