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The latest announcement is out from Metallurgical Corporation of China Ltd. Class H ( (HK:1618) ).
Metallurgical Corporation of China Ltd. has announced a significant restructuring involving the sale of its equity interests in several subsidiaries, including MCC Real Estate and MCC-JJJ Mining, to China Minmetals and other entities for RMB60,676.3224 million. This transaction will result in these subsidiaries no longer being part of the company’s consolidated financial statements. The proposed disposals are classified as a very substantial disposal under Hong Kong’s Listing Rules, necessitating shareholder approval and compliance with reporting requirements. The move is expected to streamline the company’s operations and potentially alter its market positioning, with implications for stakeholders, including changes in the use of A and H Share proceeds.
The most recent analyst rating on (HK:1618) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Metallurgical Corporation of China Ltd. Class H stock, see the HK:1618 Stock Forecast page.
More about Metallurgical Corporation of China Ltd. Class H
Metallurgical Corporation of China Ltd. Class H operates in the metallurgical industry, focusing on engineering and construction services, real estate development, and mining operations. The company is known for its involvement in large-scale infrastructure projects and resource extraction activities, primarily serving markets in China and internationally.
YTD Price Performance: 50.06%
Average Trading Volume: 49,695,876
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$73.47B
Find detailed analytics on 1618 stock on TipRanks’ Stock Analysis page.