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Bank of East Asia ( (HK:0023) ) has provided an announcement.
The Bank of East Asia (BEA) has entered into a connected transaction with CaixaBank to acquire loan commitments, rights, and obligations for approximately HK$1,177.5 million. This transaction, involving BEA’s overseas branches, is subject to reporting and announcement requirements under the Hong Kong Listing Rules but is exempt from independent shareholder approval. The acquisition includes a significant loan transfer to BEA’s London Branch, highlighting BEA’s strategic financial maneuvers to strengthen its loan portfolio and enhance its market position.
The most recent analyst rating on (HK:0023) stock is a Hold with a HK$9.60 price target. To see the full list of analyst forecasts on Bank of East Asia stock, see the HK:0023 Stock Forecast page.
More about Bank of East Asia
The Bank of East Asia, Limited (BEA) is a financial institution incorporated in Hong Kong, primarily engaged in providing banking and financial services. It operates through its branches and subsidiaries, focusing on serving the financial needs of individuals and businesses in Hong Kong and overseas.
Average Trading Volume: 1,371,503
Technical Sentiment Signal: Buy
Current Market Cap: HK$29.95B
For detailed information about 0023 stock, go to TipRanks’ Stock Analysis page.