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Dongfang Electric ( (HK:1072) ) has shared an update.
Dongfang Electric has announced the placement of 68 million new H shares, representing approximately 20% of its existing issued H shares, at a price of HK$15.92 per share. This placement is expected to raise net proceeds of approximately HK$1,074.84 million, which the company plans to allocate for its operational needs. The shares will be placed to independent third-party investors, providing a strategic financial boost while offering a discount to recent trading prices.
The most recent analyst rating on (HK:1072) stock is a Sell with a HK$12.20 price target. To see the full list of analyst forecasts on Dongfang Electric stock, see the HK:1072 Stock Forecast page.
More about Dongfang Electric
Average Trading Volume: 21,753,924
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$69.95B
For an in-depth examination of 1072 stock, go to TipRanks’ Overview page.