Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Pacific Basin Shipping ( (HK:2343) ) just unveiled an update.
The Caravel Group has increased its stake in Pacific Basin Shipping Limited to approximately 20.06% of the company’s issued share capital, confirming its status as the single largest shareholder. While Caravel indicates it may continue to buy shares, it states it has no current intention to launch a takeover offer or raise its holding to a level that would trigger a mandatory general offer under Hong Kong’s Takeovers Code, though it reserves the right to revisit this stance if circumstances materially change or a third party announces a possible offer.
The most recent analyst rating on (HK:2343) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Pacific Basin Shipping stock, see the HK:2343 Stock Forecast page.
More about Pacific Basin Shipping
Pacific Basin Shipping Limited is a Hong Kong-listed shipping company focused on dry bulk shipping services. The company operates in the global maritime transport sector, providing seaborne transportation for bulk commodities and maintaining a significant position on the Hong Kong stock market.
Average Trading Volume: 17,890,405
Technical Sentiment Signal: Buy
Current Market Cap: HK$13.46B
For a thorough assessment of 2343 stock, go to TipRanks’ Stock Analysis page.