Shares in Wharf Real Estate Investment (REIC), which was spun off from The Wharf (Holdings), opened at HK$50.4 a share on their debut on Thursday.
Wharf REIC’s key assets include investment properties such as Harbour City and Times Square.
“We believe its fair value is HK$48 per share, based on a 30 per cent discount on our estimated net asset value of HK$68 per share,” said Raymond Cheng, an analyst at CIMB Securities.
Wharf said in August it was hiving off six investment…
Source : South China Morning Post
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