An announcement from CNOOC Limited ( (HK:0883) ) is now available.
CNOOC Limited announced that its actual controller, China National Offshore Oil Corporation (CNOOC Group), plans to increase its shareholdings in the company by investing between RMB2 billion and RMB4 billion in A shares and Hong Kong shares over the next 12 months. This move aims to boost investor confidence, support the company’s stable development, and maintain stock price stability. The plan is compliant with Chinese securities laws, and CNOOC Group has committed not to reduce its shareholdings during this period. However, there are risks that the plan may not meet expectations due to market changes.
More about CNOOC Limited
CNOOC Limited is a major player in the oil and gas industry, primarily engaged in the exploration, development, and production of oil and natural gas. The company focuses on offshore China and operates internationally, holding a significant market presence.
Technical Sentiment Signal: Strong Sell
Current Market Cap: €105.8B
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