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The latest update is out from Lygend Resources & Technology Co., Ltd. Class H ( (HK:2245) ).
Lygend Resources & Technology has provided supplemental details on a connected transaction involving the establishment of a joint venture company, BJL, to develop and operate an HPAL smelting slag treatment plant on Obi Island, Indonesia, with an annual capacity of 1.34 million metric tons and associated storage and ancillary facilities. The BJL shareholders’ agreement is structured to meet Indonesian tax and corporate law requirements, enabling the project to potentially qualify for substantial tax incentives, including a multi-year corporate income tax holiday, which would significantly enhance project profitability and align with the long-term interests of the company and its shareholders; the additional cash outlay is minimal at USD379, and, as the transaction falls well below key threshold ratios under Hong Kong’s connected transaction rules, it is fully exempt from reporting, review, announcement and independent shareholders’ approval requirements, leaving the previously approved USD505 million capital commitments for the related BBS venture unchanged.
The most recent analyst rating on (HK:2245) stock is a Buy with a HK$29.00 price target. To see the full list of analyst forecasts on Lygend Resources & Technology Co., Ltd. Class H stock, see the HK:2245 Stock Forecast page.
More about Lygend Resources & Technology Co., Ltd. Class H
Lygend Resources & Technology Co., Ltd., listed in Hong Kong, operates in the resources and metallurgy sector, focusing on nickel-related projects and high-pressure acid leach (HPAL) operations. The company is expanding its presence in Indonesia, where it participates in downstream processing and slag treatment projects that support the country’s growing nickel and battery materials industry.
Average Trading Volume: 4,887,899
Technical Sentiment Signal: Buy
Current Market Cap: HK$41.64B
See more data about 2245 stock on TipRanks’ Stock Analysis page.