UBS Says CKH Holdings' Cenovus Acquisition of Athabasca Likely to Have Slightly Negative Impact on Net Asset Value
Stock News
Yesterday
According to a UBS research report, CKH Holdings (00001), which holds a 16% stake in Cenovus, has seen Cenovus announce the acquisition of Athabasca Oil through a cash and stock deal.
The bank estimates that this transaction could have a slight negative impact of approximately 0.27% on CKH Holdings' net asset value. UBS maintains its "Buy" rating on CKH Holdings with a target price of HK$101.
The bank noted that Cenovus accounts for approximately 9% of CKH Holdings' net asset value, and its share price fell 3% following the announcement of the acquisition.
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