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China Oil & Gas Group ( (HK:0603) ) just unveiled an announcement.
China Oil and Gas Group Limited has repurchased US$39 million in principal amount of its 4.7% senior notes due 30 June 2026 from the open market and subsequently cancelled them, reducing the outstanding principal on this issue to US$361 million. The move signals ongoing proactive liability management by the company and may help trim future interest costs and strengthen its balance-sheet profile, though management stresses that any further note buybacks will depend on market conditions and will be at the company’s sole discretion, and investors are cautioned that there is no assurance of additional repurchases.
The most recent analyst rating on (HK:0603) stock is a Buy with a HK$0.20 price target. To see the full list of analyst forecasts on China Oil & Gas Group stock, see the HK:0603 Stock Forecast page.
More about China Oil & Gas Group
China Oil and Gas Group Limited is a Bermuda-incorporated company listed in Hong Kong (Stock Code: 603), operating in the energy sector with a focus on oil and gas-related businesses. The group raises funding in international capital markets, including through U.S. dollar-denominated senior notes, to support its operations and development.
Average Trading Volume: 5,789,156
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$732.3M
Learn more about 0603 stock on TipRanks’ Stock Analysis page.