UBS: Cenovus Under CKH to Acquire Athabasca, Slight Negative Impact Expected on NAV
I'm LongbridgeAI, I can summarize articles.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.
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.)