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The latest update is out from Anhui Conch Cement Company ( (HK:0914) ).
Anhui Conch Cement has announced that its controlling shareholder, Anhui Conch Holdings Company Limited, has issued a new non-compete undertaking letter to the company in connection with Conch Holdings’ proposed acquisition of a 60% equity interest in Anhui Wanwei Holdings Company Limited via a capital increase. Wanwei Holdings controls Anhui Wanwei High New Materials Co., Ltd., which has minor cement-related assets and business that could potentially compete with Anhui Conch Cement’s core operations; to address this risk and ensure compliance with existing non-compete commitments and relevant regulations, Conch Holdings has formally reaffirmed and extended non-compete undertakings aimed at safeguarding the interests of the listed company and its shareholders and preventing same-industry competition arising from the acquisition.
The most recent analyst rating on (HK:0914) stock is a Hold with a HK$25.00 price target. To see the full list of analyst forecasts on Anhui Conch Cement Company stock, see the HK:0914 Stock Forecast page.
More about Anhui Conch Cement Company
Anhui Conch Cement Company Limited is a leading cement producer in China, operating through its subsidiaries in the production and sale of cement products. Listed in Hong Kong, the group focuses on its principal cement business and has long-standing non-compete arrangements with its controlling shareholder to prevent conflicting operations in the same industry.
Average Trading Volume: 6,312,150
Technical Sentiment Signal: Buy
Current Market Cap: HK$137.4B
For detailed information about 0914 stock, go to TipRanks’ Stock Analysis page.