Feb
18
Henderson Land Ripe for Restructuring After Lee Buying, BNP Says
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BNP says deep discount to net asset value could be catalyst
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The billionaire raised his stake to about 72% in January
Henderson Land Development Co. Chairman Lee Shau-Kee’s streak of share purchases in the developer has fueled expectations that the second-richest man in Hong Kong may take the company private or restructure it.
Privatization of the builder is a possible scenario, as the firm is trading at about a 50 percent discount to BNP Paribas SA’s net asset value estimate, Hong Kong-based analysts Ricky Ng and Wee Liat Lee wrote in a note Thursday. Lee boosted his stake to 72.28 percent from 72.1 percent Jan. 28. The shares rose 1.2 percent to HK$41.05 at the midday break in Hong Kong…
Henderson Land Ripe for Restructuring After Lee Buying, BNP Says
