China National Building Material Co (HK:3323) has released an update.
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China National Building Material Company has announced a pre-conditional cash offer, facilitated by Morgan Stanley, to repurchase up to 841.7 million H Shares at HK$4.03 per share, amounting to approximately 9.98% of its issued shares. The offer, totaling HK$3.39 billion, will be funded through external borrowing or internal resources and is contingent upon certain regulatory approvals. This move could significantly impact shareholder value and the company’s stock performance.
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