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CITIC Resources Holdings ( (HK:1205) ) has provided an update.
CITIC Resources Holdings, through wholly owned subsidiary CRA, has further trimmed its investment in U.S.-listed aluminium producer Alcoa, selling 1.9 million Alcoa shares on the New York Stock Exchange for about US$118.66 million. The disposal reduces the group’s direct Alcoa shareholding while it continues to hold Alcoa CHESS Depositary Interests and a smaller residual share stake, leaving it with roughly 0.86% of Alcoa’s issued share capital.
The company said the sale, classified in Hong Kong as a discloseable transaction that does not require shareholder approval, was executed at prevailing market prices to improve group liquidity and rebalance its investment portfolio. Trading in CITIC Resources shares, which had been suspended pending the announcement, is set to resume on the Hong Kong bourse, signalling completion of the transaction and clarifying its limited impact on core operations while modestly reshaping its financial asset mix.
The most recent analyst rating on (HK:1205) stock is a Hold with a HK$0.58 price target. To see the full list of analyst forecasts on CITIC Resources Holdings stock, see the HK:1205 Stock Forecast page.
More about CITIC Resources Holdings
CITIC Resources Holdings is a Hong Kong-listed resources and commodities group with interests in energy and raw materials. Through subsidiaries, it also manages financial investments, including minority stakes in overseas listed companies, as part of a broader portfolio strategy focused on liquidity and risk diversification.
Average Trading Volume: 11,341,715
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.4B
For a thorough assessment of 1205 stock, go to TipRanks’ Stock Analysis page.