李慧芬

恆生銀行(0011.HK)

2015-02-04

恆生(00011.HK)創六年高憧憬出售興業派特別息

據報道,恆生(00011.HK) 或會悉售所持10.9%興業銀行股權,初步計算,若出售屬實的話,估計恆生可派特別息每股12元,股東回報率(RoE)將由16%上升至21%,屆時將成為恆生正面催化劑。

截至去年上半年,恆生的普通股一級資本比率(CET1)為11.8%。估計出售興業銀行持股後,該比率將升至17%。倘恆生派發特別息,留存收益及股東權益將下降。假設純利不變,股東回報率(RoE)將由16%升至21%。RoE上升及派發特別息,將成為恆生的正面催化劑。除特別股息外,恆生或會考慮利用多餘的資金來回購少數股東權益,兩項方案均對該股有利。

恆生銀行(0011.HK) 今天大裂口破頂,創逾六年高,上升4.6%,成交激增至805萬股;建議投資者待回吐後在140元之下買入,目標160元。

(The above displayed are just writers’ own opinions and for readers’ reference only. Financial markets are volatile and please be careful of the risks.)NOTICE

Investment involves risk. It is as likely that losses will be incurred rather than profits made as a result of buying and selling investment and financial products. Before investment, you should be aware of all the risks involved and carefully consider your investment objectives, trading experience, and level of risk acceptance. If you have any question, please seek advice from an independent professional advisor.

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