City Dev: Deutsche says could play catch up in RNAV discount narrowing. City Dev is now trading at 27% discount to Deutsche’s RNAV vs LT average of 9%, vs Wing Tai’s current 35% discount to RNAV, relative to a 30% LT average.
Deutsche says this is one of the rate times WT’s discount narrowing came ahead of City Dev, in part due to privatization rumours.
The house expects City Dev’s price to catch up in terms of performance
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