In a separate note published today we analyse the Data Centre opportunity for EM Telcos globally which shows that the best value opportunity for those that can invest is probably in China. The 3 Chinese Telcos are each among the top 6 providers of co-location DC capacity globally, and generate 3-9% of group revenues from IDC.
China Mobile has announced it will commence a $12.6bn buyback of H Shares. After allowing for the $7.6bn raised through the A Share listing, the net buyback is $5bn. In this short note we work through the potential implications. Our price target remains HK $ 105 (+110%) and our recommendation remains Buy.
We hosted a call this afternoon HK time with IR at China Mobile. What a difference a year makes, with the company now much more bullish on top line growth, and is seeing better trends across Consumer Mobile, Household and Enterprise. Recommendation remains Buy; Target remains HK$ 90/share.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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