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Dongfang Electric ( (HK:1072) ) has issued an update.
Dongfang Electric Corporation Limited has successfully completed the issuance of A Shares to specific targets, increasing its total issued shares from 3,117,482,123 to 3,390,360,326. This strategic move, involving the issuance of 272,878,203 A Shares at RMB15.11 per share, aims to strengthen the company’s financial position and support its growth initiatives. The issuance attracted significant investment from key stakeholders, including Dongfang Electric Corporation and China State-owned Enterprise Mixed Ownership Reform Fund Co., Ltd. The new shares are subject to a lock-up period, ensuring stability in the company’s shareholding structure. This development is expected to enhance Dongfang Electric’s market positioning and provide additional resources for future expansion.
More about Dongfang Electric
Dongfang Electric Corporation Limited is a prominent player in the energy equipment manufacturing industry, primarily focusing on the production and distribution of power generation equipment. The company is known for its extensive range of products and services catering to the energy sector, with a significant market presence in China and international markets.
YTD Price Performance: 2.00%
Technical Sentiment Signal: Sell
Current Market Cap: $6.16B
For a thorough assessment of 1072 stock, go to TipRanks’ Stock Analysis page.