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China Cinda Asset Management Co ( (HK:1359) ) just unveiled an update.
China Cinda Asset Management Co., Ltd. has announced a major transaction involving an asset management contract through its subsidiaries, Cinda Investment and Cinda Securities, in collaboration with Construction Bank Beijing Branch. The transaction, which involves an investment not exceeding RMB20 billion, is classified as a major transaction under Hong Kong’s Listing Rules, requiring reporting and shareholder approval. However, due to the Ministry of Finance’s controlling stake, a general meeting will not be convened. This strategic move is aligned with Cinda’s business plans and asset allocation strategy, potentially impacting its market positioning by enhancing its investment capabilities.
The most recent analyst rating on (HK:1359) stock is a Hold with a HK$0.65 price target. To see the full list of analyst forecasts on China Cinda Asset Management Co stock, see the HK:1359 Stock Forecast page.
More about China Cinda Asset Management Co
China Cinda Asset Management Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, operating primarily in the asset management industry. It offers services such as investment management through its subsidiaries, including Cinda Investment and Cinda Securities, with a focus on managing and investing in various financial assets.
Average Trading Volume: 120,669,877
Technical Sentiment Signal: Buy
Current Market Cap: HK$48.85B
Learn more about 1359 stock on TipRanks’ Stock Analysis page.