UBS: CKH's Sale of VodafoneThree Stake Expected to Entail NAV Accretion and Potential DPS Upside
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CKH HOLDINGSannounced the sale of its 49% stake in VodafoneThree for GBP4.3 billion. UBS reported that this transaction is expected to improve CKH's net gearing from 16.5% to 9.9% by December 2025. The disposal may enhance dividends, with an estimated NAV increase and potential dividend uplift of HKD1.74 per share. UBS has assigned a Buy rating on CKH HOLDINGS with a target price of HKD67.
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