Chinasoft International Ltd (CFTLF)

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Credit Suisse: Chinasoft International raised its target price to HK$12.2 to outperform the market rating.

source
https://finance.sina.com.cn/stock/hkstock/hkgg/2021-02-05/doc-ikftssap3935759.shtml

February 05, 2021 09:50 Sina Hong Kong Stocks



ChinaSoft International (00354-HK) was raised by Credit Suisse to raise its target price from 7.3 yuan to 12.2 yuan, and its investment rating was adjusted from neutral to outperform.

ChinaSoft International announced earlier that the board of directors has approved the preliminary proposal for the possible issuance of China Depository Receipts (CDR) and listing on the Chinese securities exchange platform. According to the proposed domestic issuance, the relevant shares of the Chinese depositary receipts to be issued are initially planned to not exceed 15% of the total issued shares of the company after the expansion.

If the CDR is successfully issued, the proceeds will initially be used for the company's cloud and other major businesses.