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Chongqing Machinery & Electric Co. Ltd. Class H ( (HK:2722) ) has shared an update.
Chongqing Machinery & Electric Co., Ltd. announced a connected transaction involving the acquisition of 100% equity interest in a target company from the Asset Company, a wholly-owned subsidiary of its controlling shareholder. The transaction, valued at RMB35,621,200, is structured under an Equity Transfer Agreement and is classified as a connected transaction under the Hong Kong Listing Rules. This acquisition is expected to consolidate Chongqing Machine Tools Group’s holdings, enhancing its operational capabilities and market positioning within the industry.
More about Chongqing Machinery & Electric Co. Ltd. Class H
Chongqing Machinery & Electric Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It operates in the machinery and electric industry, focusing on manufacturing and providing machinery tools and equipment.
YTD Price Performance: 107.50%
Average Trading Volume: 11,930
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €664.8M
See more insights into 2722 stock on TipRanks’ Stock Analysis page.