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The latest announcement is out from COSCO SHIPPING Holdings Co ( (HK:1919) ).
COSCO SHIPPING Holdings Co., Ltd. has announced a plan to repurchase its A and H shares, approved by its board and shareholders. The repurchase aims to boost the market price of its shares, which are currently trading below their net asset value, thereby safeguarding shareholder interests and enhancing investor confidence. The plan involves repurchasing between 50 to 100 million A shares through centralized price bidding on the Shanghai Stock Exchange, with a maximum fund allocation of RMB1.498 billion. This strategic move is expected to positively impact the company’s market positioning and shareholder value.
The most recent analyst rating on (HK:1919) stock is a Sell with a HK$11.00 price target. To see the full list of analyst forecasts on COSCO SHIPPING Holdings Co stock, see the HK:1919 Stock Forecast page.
More about COSCO SHIPPING Holdings Co
COSCO SHIPPING Holdings Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It operates in the shipping industry, focusing on the transportation of goods and logistics services. The company is listed on the Hong Kong Stock Exchange and is involved in the repurchase of its shares to enhance shareholder value and investor confidence.
Average Trading Volume: 29,851,921
Technical Sentiment Signal: Buy
Current Market Cap: HK$234.5B
Find detailed analytics on 1919 stock on TipRanks’ Stock Analysis page.