Event – Trading suspended today
According to HKEX, Wumart has been suspended from trading from 9am today pending announcement of inside information.
Source: 15 Oct 2013 Company announcement
Deutsche Bank comment
The company will have an analyst presentation at 6pm today regarding a significant corporate development initiative. Considering accelerated market consolidation in food retailing sector recently, we expect the development initiative could be M&A related. To recap, the company noted at the 1HFY13 analyst briefing that it aims to be a leading consolidator in the segment and has been looking for appropriate M&A opportunities.