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China Oil & Gas Group ( (HK:0603) ) has shared an update.
China Oil & Gas Group Limited has announced a merger and acquisition agreement involving China Oil Investment, Tiandalitong, CCNG, and Shengli Share. The agreement outlines the acquisition of several equity interests, including 100% of China Oil Zhuhai and Tiandashengtong, 51% of Nantong Oil, and 40% of Ganhe China Oil. The transaction will be executed through a combination of share issuance and cash payment, with the share price set at RMB3.07 per share. The newly issued shares will be subject to a 36-month lock-up period, which may extend if certain stock price conditions are met. This strategic move is expected to enhance the company’s asset portfolio and strengthen its competitive positioning in the oil and gas industry.
More about China Oil & Gas Group
China Oil & Gas Group Limited is a company involved in the energy sector, focusing on oil and gas operations. The company, along with its subsidiaries, is engaged in the acquisition and management of oil and gas assets, aiming to strengthen its market position in the energy industry.
YTD Price Performance: 10.29%
Average Trading Volume: 5,167,660
Technical Sentiment Signal: Buy
Current Market Cap: HK$911.9M
For detailed information about 0603 stock, go to TipRanks’ Stock Analysis page.