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PetroChina Company ( (HK:0857) ) has issued an announcement.
PetroChina Company Limited announced that its controlling shareholder, China National Petroleum Corporation (CNPC), plans to increase its shareholdings in the company by purchasing additional A and H shares over the next 12 months. This Shareholding Increase Plan, valued between RMB2.8 billion and RMB5.6 billion, reflects CNPC’s confidence in PetroChina’s future prospects and aims to strengthen its position in the market. The plan will be executed through centralized price bidding and secondary market purchases, funded by CNPC’s internal resources. PetroChina will monitor and disclose any developments regarding the plan, although there are risks of partial or non-implementation due to market fluctuations.
More about PetroChina Company
PetroChina Company Limited is a leading oil and gas company in China, primarily engaged in the exploration, development, production, and sale of crude oil and natural gas. It operates within the energy sector and focuses on both domestic and international markets.
Average Trading Volume: 85,778
Technical Sentiment Signal: Hold
Current Market Cap: $197.7B
For an in-depth examination of 0857 stock, go to TipRanks’ Stock Analysis page.