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<Research>UBS Expects ANTA SPORTS (02020.HK) Acquisition of PUMA Stake Not to Affect Div. Policy
Recommend 2 Positive 7 Negative 3 |
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ANTA SPORTS (02020.HK) recently announced the acquisition of over 29% stake in Puma for more than EUR1.5 billion, becoming its largest shareholder, UBS issued a research report saying. ANTA SPORTS said that it currently has no intention to privatize Puma, with the price per share expected to have a premium of approx. 62%. The acquisition price is equivalent to about 15x the 2024 PE ratio and about 0.6x the PS ratio. UBS anticipated that this transaction is within investors' expectations, and believed that the dividend policy will remain unaffected considering that the Group still has a net cash of RMB31.5 billion as of June 2025. Therefore, the broker kept its target price at $117 for ANTA SPORTS, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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