Puxing Energy to Exit Deneng and Jingxing via Major Connected Disposals

Puxing Energy Ltd. ( (HK:0090) ) just unveiled an announcement.

Puxing Energy Limited has agreed to sell its entire 49% stake in Deneng and its 100% interest in Jingxing to a Shenzhen-listed purchaser ultimately controlled by the same ultimate controller, Mr. Lu. The disposals, valued at a combined consideration of about RMB260.2 million, will result in the group fully exiting both Deneng and Jingxing once registration procedures are completed.

Because the buyer is a connected person through Wanxiang Group’s majority ownership and common ultimate control, the transactions are classified as major and connected under Hong Kong Listing Rules. As a result, they must be aggregated and are subject to reporting, announcement, circular, and independent shareholders’ approval requirements, underscoring governance and compliance implications for investors and other stakeholders.

The most recent analyst rating on (HK:0090) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Puxing Energy Ltd. stock, see the HK:0090 Stock Forecast page.

More about Puxing Energy Ltd.

Puxing Energy Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates in the energy sector through various power-related subsidiaries. The group holds and manages equity interests in power plant and energy project companies in mainland China, positioning itself as an investor and operator within the Chinese electricity and energy infrastructure market.

Average Trading Volume: 221,178

Technical Sentiment Signal: Hold

Current Market Cap: HK$435.7M

For detailed information about 0090 stock, go to TipRanks’ Stock Analysis page.