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  >  SHENZHEN STOCK EXCHANGE  >  CNHTC Jinan Truck Co., Ltd.    000951   CNE0000010Y1

CNHTC JINAN TRUCK CO., LTD.

(000951)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Volkswagen courting Swedish investors to anchor Traton truck IPO: sources

02/05/2019 | 07:34am EST
FILE PHOTO: The logo of Volkswagen's truck unit Traton, former Volkswagen Truck & Bus AG, is pictured in Hanover

STOCKHOLM (Reuters) - Volkswagen is in talks with Swedish institutional investors AMF, AP Fund 1 and 4, Investor AB and Folksam about being cornerstone shareholders in the dual listing of its trucks unit Traton in Stockholm and Frankfurt, people familiar with the talks said.

The discussions could result in more than one cornerstone investor being brought on board and are for each investor to take a 150 million to 300 million euro ($171.21-$342.42 million) stake, these sources told Reuters, declining to be named as talks were confidential.

Cornerstone investors are institutions that are invited to subscribe to shares ahead of an IPO to boost its popularity and often serve as a seal of approval for other investors. Securing such investors is popular among Nordic companies.

Första AP-fonden (AP1) had been asked about being anchor investors, its head of equities Olof Jonasson confirmed to Reuters, but declined to comment on stake size and price.

"We have been approached but I couldn't really tell you anything about the details... Our interest... would be about business potential and valuation and all those things put together," said Jonasson, whose fund is also a large owner of Swedish rival AB Volvo.

Reuters reported last week that VW expects to sell shares worth 5 billion-6 billion euros ($5.7-$6.9 billion) in an April listing that could value Traton about 20 billion-25 billion euros.

At this size and value, the IPO could potentially become Germany's and Sweden's biggest new share offering in 2019, but the sources said its size had not yet been finalised and would depend on market conditions.

AP4 head of equities Per Colleen said he could not confirm any of the details but added: "Anything of that size, we will have a serious look at".

AMF, Investor AB, Folksam, Volkswagen and Traton did not immediately respond to requests for comment.

Traton is the umbrella name for MAN, Scania and VW brands, but Swedish company Scania is by far its most valuable part, with superior profitability and stability.

Scania was listed in Stockholm until 2014, when its then largest investor VW took it private in a deal that valued it at about 17.9 billion euros, but many Swedish investors that were squeezed out said then that the offer undervalued the group.

One of the source said that Swedish funds were keen for a substantial stake in the Traton IPO as they expected it to have a large influence on the automotive and engineering-heavy Stockholm blue-chip index that they try to outperform.

($1 = 0.8761 euros)

(Reporting by Esha Vaish in Stockholm, additional reporting by Alexander Huebner and Edward Taylor; Editing by Rachel Armstrong and Emelia Sithole-Matarise)

By Esha Vaish


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
CNHTC JINAN TRUCK CO., LTD. -2.96% 36.37 End-of-day quote.61.64%
DUAL CO., LTD. -1.97% 3480 End-of-day quote.10.83%
HINO MOTORS, LTD. 0.42% 962 End-of-day quote.-17.21%
INVESTOR AB -0.34% 595 Delayed Quote.16.39%
JUST GROUP PLC -3.57% 58 Delayed Quote.-26.58%
VOLKSWAGEN AG -2.35% 152.34 Delayed Quote.-13.56%
WILL GROUP, INC. 1.02% 990 End-of-day quote.-20.93%
All news about CNHTC JINAN TRUCK CO., LTD.
03/27CNHTC JINAN TRUCK CO., LTD. : annual earnings release
2019VOLKSWAGEN COURTING SWEDISH INVESTOR : sources
RE
2019VW's Traton trucks pursues growth with China, U.S. alliances
RE
2019Volkswagen aims for Traton truck IPO in April - sources
RE
2018Volkswagen's truck unit Traton plans JV with China's Sinotruk
RE
More news
Financials
Sales 2020 55 108 M 8 380 M 8 380 M
Net income 2020 1 823 M 277 M 277 M
Net Debt 2020 700 M 106 M 106 M
P/E ratio 2020 13,4x
Yield 2020 2,23%
Capitalization 24 407 M 3 712 M 3 711 M
EV / Sales 2020 0,46x
EV / Sales 2021 0,45x
Nbr of Employees 7 786
Free-Float 32,9%
Chart CNHTC JINAN TRUCK CO., LTD.
Duration : Period :
CNHTC Jinan Truck Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CNHTC JINAN TRUCK CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 48,47 CNY
Last Close Price 36,37 CNY
Spread / Highest target 48,5%
Spread / Average Target 33,3%
Spread / Lowest Target 18,2%
EPS Revisions
Managers
NameTitle
Wen Sheng Jin General Manager & Director
Zheng Tao Liu Chairman
Shi Jin Guo Financial Director
Zai Bin Wang Member-Supervisory Board
Kai Jun Hu Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
CNHTC JINAN TRUCK CO., LTD.61.64%3 816
AB VOLVO29.57%48 221
SINOTRUK (HONG KONG) LIMITED23.04%7 836
XCMG CONSTRUCTION MACHINERY CO., LTD.-4.39%6 323
JUNGHEINRICH AKTIENGESELLSCHAFT78.33%4 647
ANHUI HELI CO., LTD.58.89%1 771