China Hongqiao Group Expands Stake in Hontron Holding Through Share Issuance

China Hongqiao Group Ltd. ( (HK:1378) ) has shared an update.

China Hongqiao Group Limited announced a transaction involving the issuance of new shares by its subsidiary, Hontron Holding, to acquire 100% equity interest in Hongtuo Industrial from existing shareholders. This transaction will increase the company’s indirect shareholding in Hontron Holding to approximately 88.99% while slightly reducing its stake in Hongtuo Industrial. The transaction is classified as a discloseable transaction under Hong Kong’s Listing Rules, requiring notification and announcement but not shareholder approval.

The most recent analyst rating on (HK:1378) stock is a Buy with a HK$18.00 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 Limited is a company incorporated under the laws of the Cayman Islands, primarily involved in the aluminum industry. It operates through subsidiaries such as Weiqiao Aluminum & Power, focusing on aluminum production and related industrial activities.

Average Trading Volume: 42,976,343

Technical Sentiment Signal: Buy

Current Market Cap: HK$142.1B

See more data about 1378 stock on TipRanks’ Stock Analysis page.