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CITIC Resources Holdings ( (HK:1205) ) just unveiled an announcement.
CITIC Resources Holdings plans to seek shareholder approval for a mandate allowing its directors to dispose of its remaining stake in Alcoa, comprising up to 1,691,918 CHESS Depositary Interests and 551,306 Alcoa shares, equal to about 0.86% of Alcoa’s issued share capital. The company argues that pre-approved flexibility is necessary to respond quickly to volatile market conditions, but warns there is no assurance any sale will proceed.
If fully executed at or above a set minimum selling price, the disposals, when aggregated with prior sales of Alcoa stock, would qualify as a very substantial disposal under Hong Kong listing rules and therefore require reporting, announcement and shareholder approval. CITIC Resources will send a circular with further details and an SGM notice by 28 May 2026, and has cautioned shareholders and potential investors to exercise care when dealing in its shares given the uncertainty over timing and execution of any disposals.
More about CITIC Resources Holdings
CITIC Resources Holdings is a Bermuda-incorporated company listed in Hong Kong, operating as part of the broader CITIC group with interests in natural resources and related investments. The group actively manages a portfolio of commodity and resource-related assets, including equity stakes in international companies such as U.S.-listed aluminium producer Alcoa, as part of its capital allocation and investment strategy.
Average Trading Volume: 12,282,663
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.16B
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