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Maanshan Iron & Steel Co ( (HK:0323) ) has shared an announcement.
Maanshan Iron & Steel Company Limited announced a supplemental update regarding its Capital Reduction Agreement with Baowu Water. The agreement involves a reduction in the company’s shareholding in Baowu Water to 3.151%, resulting in a change in accounting treatment to financial assets measured at fair value through other comprehensive income. This transaction does not involve cash and will not materially impact the company’s cash flow, but it signifies a shift in the company’s influence over Baowu Water.
The most recent analyst rating on (HK:0323) stock is a Buy with a HK$2.80 price target. To see the full list of analyst forecasts on Maanshan Iron & Steel Co stock, see the HK:0323 Stock Forecast page.
More about Maanshan Iron & Steel Co
Maanshan Iron & Steel Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China, primarily operating in the iron and steel industry. The company is listed on the Hong Kong Stock Exchange under the stock code 00323.
Average Trading Volume: 35,994,841
Technical Sentiment Signal: Buy
Current Market Cap: HK$28.09B
Learn more about 0323 stock on TipRanks’ Stock Analysis page.