Latest data from the Hong Kong Stock Exchange reveals that on November 27, a shareholder of SJM Holdings (00880) deposited shares in BNP Paribas, with a custody value of HK$1.018 billion, representing 5.37% of the company. UBS issued a research report stating that SJM Holdings announced an acquisition of the Arc de Triomphe Hotel for HK$1.75 billion, including HK$175 million for share purchases and approximately HK$1.75 billion to settle debts on behalf of seller Angela Leong. UBS maintained a "Sell" rating on SJM Holdings with a target price of HK$2.8, while viewing the acquisition as beneficial for the company.
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