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The latest update is out from Tianjin Port Development Holdings ( (HK:3382) ).
Tianjin Port Development Holdings has agreed, through its subsidiary Goods and Materials Co, to sell 100% of the equity in Import Co, a PRC-based trader and agency seller of port production materials, to Dongjiang International Trade Co for approximately RMB5.35 million, a price set with reference to an independent asset appraisal. After completion of the transaction, which will occur upon registration of the change in business ownership, Import Co will cease to be a subsidiary, and because the buyer is an affiliate of controlling shareholder Tianjin Port Group, the deal is classified as a connected transaction under Hong Kong listing rules but is only subject to reporting and announcement requirements, indicating a relatively small financial scale yet reflecting ongoing intra-group portfolio optimization.
The most recent analyst rating on (HK:3382) stock is a Buy with a HK$1.00 price target. To see the full list of analyst forecasts on Tianjin Port Development Holdings stock, see the HK:3382 Stock Forecast page.
More about Tianjin Port Development Holdings
Tianjin Port Development Holdings operates in the port and logistics industry, with its subsidiaries engaged in trade services and agency sales of port production materials, including import and export of goods and related agency services in China.
YTD Price Performance: 12.04%
Average Trading Volume: 1,380,416
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.12B
For detailed information about 3382 stock, go to TipRanks’ Stock Analysis page.