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51 Credit Card Inc. ( (HK:2051) ) has issued an announcement.
51 Credit Card Inc. has completed a significant transaction involving the disposal of shares in its subsidiary, China Netcom, through a placing. The transaction, which involved the sale of approximately 10.16% of China Netcom’s total issued share capital, generated gross proceeds of HK$7.14 million. Following the transaction, 51 Credit Card Inc.’s indirect holding in China Netcom has decreased from approximately 39.16% to 29.00%, altering its classification of China Netcom from a subsidiary to an associate. This move is expected to impact the company’s financial statements and its influence over China Netcom.
More about 51 Credit Card Inc.
51 Credit Card Inc. operates in the financial services industry, focusing on credit card management and related financial solutions. The company is known for its technological approach to personal finance management, catering primarily to consumers seeking efficient credit card management services.
YTD Price Performance: 68.75%
Average Trading Volume: 1,947,568
Technical Sentiment Signal: Buy
Current Market Cap: HK$660.1M
For a thorough assessment of 2051 stock, go to TipRanks’ Stock Analysis page.