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China Shenhua Energy Co ( (HK:1088) ) has issued an announcement.
China Shenhua Energy Company Limited has announced progress on its transaction involving the issuance of A shares and cash payment to acquire assets from its controlling shareholder, China Energy Investment Corporation Limited. This transaction, which includes coal and related energy assets, aims to raise supporting funds and is classified as a related transaction under applicable regulations. The company’s shares were temporarily suspended from trading but have since resumed, and the board has approved the proposals related to the transaction. This move is part of the company’s strategic efforts to enhance its asset base and strengthen its market position in the energy sector.
The most recent analyst rating on (HK:1088) stock is a Sell with a HK$29.60 price target. To see the full list of analyst forecasts on China Shenhua Energy Co stock, see the HK:1088 Stock Forecast page.
More about China Shenhua Energy Co
China Shenhua Energy Company Limited is a major player in the energy sector, primarily focusing on coal production, coal-fired power, coal-to-liquid, coal-to-gas, and coal chemicals. The company is a subsidiary of China Energy Investment Corporation Limited, which is its controlling shareholder.
YTD Price Performance: 33.91%
Average Trading Volume: 12,913,772
Technical Sentiment Signal: Buy
Current Market Cap: HK$891.5B
For detailed information about 1088 stock, go to TipRanks’ Stock Analysis page.