---
title: "UBS: Cenovus Under CKH to Acquire Athabasca, Slight Negative Impact Expected on NAV"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/301091439.md"
description: "UBS reports that Cenovus, in which CKH Holdings holds a 16% stake, is acquiring Athabasca Oil. The broker anticipates a slight negative impact of approximately 0.27% on CKH Holdings' NAV due to the deal. Despite Cenovus' share price dropping 3% post-announcement, UBS maintained its Buy rating and HKD101 target price for CKH Holdings."
datetime: "2026-10-07T02:05:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/301091439.md)
  - [en](https://longbridge.com/en/news/301091439.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/301091439.md)
generator: "portal-rs"
---

# UBS: Cenovus Under CKH to Acquire Athabasca, Slight Negative Impact Expected on NAV

Cenovus, in which CKH HOLDINGS (00001.HK) +0.050 (+0.074%) Short selling $52.27M; Ratio 20.383% holds a 16% stake (accounting for about 9% of CKH HOLDINGS' NAV), announced the acquisition of Athabasca Oil through cash and stock consideration, UBS mentioned in a report.

The broker noted that Cenovus' share price stumbled 3% after the announcement. It estimated that the deal may have a slight negative impact on CKH HOLDINGS' NAV, at around 0.27%. The Buy rating and TP of HKD101 on CKH HOLDINGS were maintained.  
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-10-06 16:25.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**