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China Hongqiao Group Ltd. ( (HK:1378) ) has issued an update.
China Hongqiao Group Ltd. has completed the placing of 400 million existing shares and a top-up subscription of 400 million new shares, raising approximately HK$11,490.1 million. The proceeds will be used for developing domestic and overseas projects, including new energy and the Simandou iron ore project, optimizing the capital structure through debt repayment, and general corporate purposes. This strategic move is expected to enhance the company’s project portfolio and financial stability.
The most recent analyst rating on (HK:1378) stock is a Buy with a HK$34.00 price target. To see the full list of analyst forecasts on China Hongqiao Group Ltd. stock, see the HK:1378 Stock Forecast page.
More about China Hongqiao Group Ltd.
China Hongqiao Group Ltd. is a company incorporated under the laws of the Cayman Islands with limited liability. It operates in the aluminum industry, focusing on the production and sale of aluminum products. The company is involved in domestic and overseas projects, including new energy projects and lightweight materials.
Average Trading Volume: 44,848,748
Technical Sentiment Signal: Buy
Current Market Cap: HK$282.5B
For a thorough assessment of 1378 stock, go to TipRanks’ Stock Analysis page.