Aluminum of China ( (HK:2600) ) has provided an update.
Aluminum of China has announced a significant corporate restructuring involving the merger of its subsidiary Baotou Aluminum with Inner Mongolia Huayun. This transaction, which is classified as both a discloseable and connected transaction under Hong Kong Listing Rules, will result in Baotou Aluminum absorbing Inner Mongolia Huayun, with the latter being dissolved. The merger will see Aluminum of China and Chinalco holding 65.5759% and 34.4241% of Baotou Aluminum, respectively. This strategic move is subject to shareholder approval and is expected to streamline operations and potentially enhance the company’s market position.
More about Aluminum of China
Aluminum of China, also known as Chinalco, is a major player in the aluminum industry, focusing on the production and supply of aluminum products. The company is involved in various aspects of the aluminum supply chain, including mining, refining, and manufacturing, and holds a significant market position in China.
YTD Price Performance: 12.55%
Average Trading Volume: 12,050
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $15.54B
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