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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Hong Kong Exchanges and Clearing Limited    0388   HK0388045442

HONG KONG EXCHANGES AND CLEARING LIMITED

(0388)
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Hong Kong Exchanges and Clearing : Makes GBP29.6 Billion Bid Approach to London Stock Exchange

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09/11/2019 | 05:07am EDT

By Ian Walker

Hong Kong Exchanges & Clearing Ltd. (0388.HK) said Wednesday that it has approached the London Stock Exchange Group PLC (LSE.LN) with a 29.6 billion pound ($36.54 billion) cash and share offer and plans to seek a recommendation from its board.

The HK Exchange said a merger of the two exchanges would be a "highly compelling strategic opportunity to create a global market infrastructure leader."

If the deal goes ahead, accepting London Stock Exchange Group shareholders would get 2,045 pence in cash and 2.495 new HK Exchange shares. The offer values each London Stock Exchange share at 8,361 pence based on the HK Exchange's closing share price of 245.20 Hong Kong dollars ($31.28) on Sept. 10.

If the deal goes ahead the HK Exchange will apply for a second listing on the London Stock Exchange. Any deal will be financed via existing cash resources and new credit facilities.

London Stock Exchange shares at 0845 GMT were up 810 pence, or 12%, at 7614 pence.

Write to Ian Walker at ian.walker@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
HONG KONG EXCHANGES AND CLEARING LIMITED -2.41% 235 End-of-day quote.2.80%
LONDON STOCK EXCHANGE -0.08% 7398 Delayed Quote.82.27%
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Financials (HKD)
Sales 2019 16 340 M
EBIT 2019 11 538 M
Net income 2019 9 535 M
Finance 2019 51 058 M
Yield 2019 2,90%
P/E ratio 2019 31,0x
P/E ratio 2020 27,4x
EV / Sales2019 14,9x
EV / Sales2020 9,88x
Capitalization 295 B
Chart HONG KONG EXCHANGES AND CLEARING LIMITED
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Hong Kong Exchanges and Clearing Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends HONG KONG EXCHANGES AND CL
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 267,16  HKD
Last Close Price 235,00  HKD
Spread / Highest target 34,5%
Spread / Average Target 13,7%
Spread / Lowest Target -10,6%
EPS Revisions
Managers
NameTitle
Charles Xiaojia Li CEO & Ex-Officio Executive Director
May Lung Cha Chairman
Chi Kin Tai Joint Chief Operating Officer & Head-Clearing
Kwok Keung Lee Joint Chief Operating Officer
John F. Killian Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
HONG KONG EXCHANGES AND CLEARING LIMITED2.80%37 724
INTERCONTINENTAL EXCHANGE INC21.97%51 491
LONDON STOCK EXCHANGE82.27%32 068
DEUTSCHE BÖRSE AG31.63%27 849
B3 SA BRASIL BOLSA BALCAO0.00%21 614
NASDAQ21.71%16 350