Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Asiainfo Technologies Limited    1675   VGG0542G1028

ASIAINFO TECHNOLOGIES LIMITED

(1675)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Exclusive: CITIC Capital plans $1.8 billion take-private of Hong Kong-listed AsiaInfo Tech - sources

11/25/2020 | 01:14am EST

HONG KONG (Reuters) - Chinese private equity firm CITIC Capital plans to take private AsiaInfo Technologies Ltd in a deal that could value the telecom software provider at about $1.8 billion, two people with direct knowledge of the matter told Reuters.

AsiaInfo's largest shareholder with a 23.4% stake is talking with banks to finance the deal, said the people - plus two other people - in what would add to a surge in buyout firms tapping Hong Kong for take-private opportunities. CITIC denied the deal.

The people said CITIC aims to pursue the deal in partnership with China Mobile Communications Group Co Ltd - AsiaInfo's second-biggest shareholder with a 19.9% stake and parent of leading network provider China Mobile Ltd.

The goal is to eventually list AsiaInfo on the mainland to take advantage of higher valuations, said one of the people, who declined to be identified due to confidentiality constraints.

A prospective offer from the flagship alternative investment arm of financial conglomerate CITIC Group Corp would represent a premium of about 30% to AsiaInfo's average share price over the past month of HK$11.5 ($1.48), the people said.

CITIC said the information about its plans for taking AsiaInfo private, the deal's financing and partnering with China Mobile Communications is inaccurate.

AsiaInfo and China Mobile did not respond to requests for comment.

Beijing-based AsiaInfo was established in 1993 and currently provides services such as cloud consulting and operation to over 200 telecos, including state-owned majors China Mobile, China Telecom Corp Ltd and China Unicom.

Its stock price has fallen 14% since a mid-September peak while the benchmark Hang Seng Index has gained 9% in the same period.

UNDERVALUED

Hong Kong-listed firms have been involved in $21.5 billion worth of take-private deals so far in 2020, versus $8.6 billion for all of last year, Refinitiv data showed. Buyers often cited undervalued shares as a reason for the deals.

An abundance of funds at private equity firms and other long-term investors coupled with few avenues to earn worthwhile returns have pushed average premiums paid to 43% this year from 34% in 2018, the data showed.

Last year, CITIC raised $2.8 billion https://www.reuters.com/article/us-citiccapital-fundraising-idUSKCN1UY07K in its fourth and biggest China buyout fund. Founded in 2002, the private equity firm has invested in over 200 portfolio companies totalling $32 billion worth of assets, with investments including courier SF Express and the Chinese unit of McDonald's Corp.

($1 = 7.7515 Hong Kong dollars)

(Reporting by Julie Zhu and Kane Wu; Editing by Anshuman Daga and Christopher Cushing)

By Julie Zhu and Kane Wu


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASIAINFO TECHNOLOGIES LIMITED 3.19% 11.66 End-of-day quote.4.67%
CHINA MOBILE LIMITED -2.76% 47.6 End-of-day quote.7.69%
CHINA TELECOM CORPORATION LIMITED -2.18% 2.24 End-of-day quote.4.19%
CITIC LIMITED -3.31% 6.14 End-of-day quote.11.84%
CITIC SECURITIES COMPANY LIMITED -2.69% 30.33 End-of-day quote.3.16%
HANG SENG -1.66% 29441.63 Real-time Quote.8.12%
All news about ASIAINFO TECHNOLOGIES LIMITED
01/22ASIAINFO TECHNOLOGIES : Helps PICC Life's CRM Project to Win the “2020 Out..
PU
01/20ASIAINFO TECHNOLOGIES : Appeared at the 2020 ABC Summit and Cooperates with Baid..
PU
01/20ASIAINFO TECHNOLOGIES : Construction of National Database Adaptation Verificatio..
PU
01/20ASIAINFO TECHNOLOGIES : was honored with 2020 Jin Zi Zhu Communication Awards
PU
01/20ASIAINFO TECHNOLOGIES : won the Award of “Leaping Technology Enterprise&rd..
PU
01/20ASIAINFO TECHNOLOGIES : Won the 2020 “Best Annual Report” of Listed ..
PU
2020ASIAINFO TECHNOLOGIES : On the Wave of 5G, AsiaInfo (1675.HK) Ready to Become a ..
AQ
2020EXCLUSIVE : CITIC Capital plans $1.8 billion take-private of Hong Kong-listed As..
RE
2020Chinese private equity firm citic capital plans to take private asiainfo tech..
RE
2020ASIAINFO TECHNOLOGIES : 1675.HK) included in Hong Kong Stock Connect scheme
PR
More news
Financials
Sales 2020 6 076 M 938 M 938 M
Net income 2020 605 M 93,4 M 93,4 M
Net cash 2020 2 943 M 454 M 454 M
P/E ratio 2020 13,8x
Yield 2020 2,70%
Capitalization 8 927 M 1 377 M 1 377 M
EV / Sales 2020 0,98x
EV / Sales 2021 0,84x
Nbr of Employees 12 859
Free-Float 29,7%
Chart ASIAINFO TECHNOLOGIES LIMITED
Duration : Period :
Asiainfo Technologies Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASIAINFO TECHNOLOGIES LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Average target price 12,24 CNY
Last Close Price 9,75 CNY
Spread / Highest target 31,6%
Spread / Average Target 25,5%
Spread / Lowest Target 19,5%
EPS Revisions
Managers and Directors
NameTitle
Nian Shu Gao Chief Executive Officer & Executive Director
Su Ning Tian Chairman
Ming Jie Sun VP & General Manager-Operations Management Center
Ying Huang Chief Financial Officer & Senior Vice President
Ye Ouyang Chief Technology Officer & Vice President
Sector and Competitors
1st jan.Capitalization (M$)
ASIAINFO TECHNOLOGIES LIMITED4.67%1 377
MICROSOFT CORPORATION1.15%1 700 885
SEA LIMITED17.54%119 594
ZOOM VIDEO COMMUNICATIONS, INC.13.66%111 738
ATLASSIAN CORPORATION PLC0.68%58 358
DASSAULT SYSTÈMES SE-0.69%52 147