Hong Kong-listed GSI surged by more than 70% as trading resumed after a major overhaul that saw it complete a near $900m takeover of two yards.
Lawrence Li, an analyst at UOB Kay Hian, upgraded the share to buy today after the purchase of Huangpu Wenchong Shipbuilding and Yangzhou Kejin.
Li says GSI has become CSSC’s listed vehicle in south China after the asset injection via the cash and shares takeover of Huangpu Wenchong.
