China's high speed transmission rating cut by major shareholder reduction

Each reporter Li Lingxia on the one hand by large shareholders reduce the company's shares, on the other hand by the big line lower ratings, by the two news stimulus, yesterday China's high-speed transmission (00658,HK), the performance of the decline as high as 8.177%, reported 13.7 Hong Kong dollars. The company's largest single shareholder, Fortuneapexlimited, has agreed to sell 65 million shares and sold 5.22% of the company's total issued share capital, according to a Chinese high-speed drive announcement announced by the Hong Kong stock Exchange. After the sale, Fortuneapexlimited's shareholding in China's high-speed transmission fell to 21.56%.　　Meanwhile, Fortuneapex pledged not to sell further shares in the next 12 months. In addition, according to the SEHK, investment agency Thecapitalgroupcompanies (CGC) declared that on May 5 the company had reduced its share of 8 million high-speed drives in the two-tier market on the same day, at an average price of HK $13.882 per share, and its shareholding was also 5.25　　% to 4.61%.　At the same time as large shareholder reduction, international investment bank Morgan Stanley has also lowered its investment rating on China's high-speed drive. Morgan Stanley believes that China's high-speed transmission has so far won the state-owned enterprises Index 41%, and the current unit shares has fully reflected its short-term earnings growth of 25% and long-term growth of 15% of the forecast, so the rating from "overweight" to "synchronized with the city", the target price rose 14.39% to 15.9 yuan.