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Qilu Expressway Co., Ltd. Class H ( (HK:1576) ) has provided an update.
Qilu Expressway Co., Ltd. Class H is involved in a connected transaction with Shandong Hi-Speed Energy Development to establish a joint venture company. The joint venture, named Shandong High-Speed Ludong New Energy Co., Ltd., will have a capital commitment of RMB110 million, with Shandong Hi-Speed Energy Development and Qilu Hong Kong contributing RMB56.1 million and RMB53.9 million, respectively. This transaction is classified as a connected transaction under the Hong Kong Listing Rules, requiring reporting and announcement but exempt from independent shareholder approval. The JV will invest in a target project, and the financial results will not be consolidated into Qilu Expressway’s accounts.
More about Qilu Expressway Co., Ltd. Class H
YTD Price Performance: 5.65%
Average Trading Volume: 61,432
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$4.72B
For an in-depth examination of 1576 stock, go to TipRanks’ Stock Analysis page.
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