China Hongqiao Group Ltd. (HK:1378) has released an update.
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China Hongqiao Group Limited has announced that its controlling shareholder, Hongqiao Holdings, has increased its stake in the company by purchasing an additional 6,872,500 shares at an average price of HK$11.87 each. This purchase boosts Hongqiao Holdings’ ownership from 64.13% to 64.20%, demonstrating their confidence in the company’s long-term growth and future prospects. Despite the increase, the company still meets the public float requirement of 15.04%.
For further insights into HK:1378 stock, check out TipRanks’ Stock Analysis page.