Morningstar: Cheung Kong sells Hutchison Ports to increase its fair value by 10% to HK$67.

GoldenOctober2024

2025-03-06 02:57:30

Abstract generation in progress

Jinshi data news on March 6th, Morningstar released a report indicating that Cheung Kong (00001.HK) announced the possible sale of an 80% stake in Hutchison Port Holdings, with Cheung Kong expected to receive at least $19 billion, the entire enterprise value being $37 billion, making this sale significant. Morningstar’s fair value of Cheung Kong increased by 10% from HK$61 to HK$67. Morningstar previously valued the port business at only $10.5 billion, greatly exceeding its expectations. Cheung Kong’s net debt ratio decreased from 25% in 2019 to 17% in June 2024, and Morningstar believes that the company can distribute most of the windfall to shareholders, bringing a special dividend of over HK$25 per share.

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