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Sinotrans ( (HK:0598) ) just unveiled an announcement.
Sinotrans Limited has completed its proposed shareholding increase in Antong, acquiring approximately 168.608 million shares through block trading and centralized bidding transactions. This acquisition, representing about 3.98% of Antong’s total share capital, was achieved with an investment of approximately RMB 600 million, reaching the upper limit of the proposed increase. As a result, Sinotrans now holds a total of 168.7742 million shares, accounting for approximately 3.99% of Antong’s total share capital. This strategic move is expected to strengthen Sinotrans’s influence and stake in Antong, potentially impacting its operational capabilities and market positioning.
The most recent analyst rating on (HK:0598) stock is a Buy with a HK$5.00 price target. To see the full list of analyst forecasts on Sinotrans stock, see the HK:0598 Stock Forecast page.
More about Sinotrans
Sinotrans Limited is a joint stock company incorporated in the People’s Republic of China, operating in the logistics and transportation industry. The company is involved in providing comprehensive logistics services, including freight forwarding, shipping agency, and storage and terminal services, with a focus on enhancing its market position in the logistics sector.
Average Trading Volume: 8,896,183
Technical Sentiment Signal: Buy
Current Market Cap: HK$47.3B
See more insights into 0598 stock on TipRanks’ Stock Analysis page.