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Tongguan Gold Group Ltd. ( (HK:0340) ) just unveiled an announcement.
Tongguan Gold Group Ltd. has provided additional details on its planned acquisition of 100% equity interest in a target company via an issue of consideration shares under its general mandate, clarifying that the value of the acquired structure is effectively derived from a downstream project company held through several intermediate holding entities with no standalone operations or material assets. The company explained that the target group’s business, conducted via a wholly foreign-owned enterprise in China, is not subject to PRC foreign investment restrictions and that its valuation was based on a comparable company analysis focused on listed mining-related engineering service providers in China, underscoring a structured approach to pricing the deal and highlighting its strategic focus on mining services within the Chinese market.
The most recent analyst rating on (HK:0340) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Tongguan Gold Group Ltd. stock, see the HK:0340 Stock Forecast page.
More about Tongguan Gold Group Ltd.
Tongguan Gold Group Ltd., incorporated in Bermuda and listed in Hong Kong, operates in the mining sector, with activities focused on gold and mining-related assets and projects. Through its subsidiaries and associated entities, the group invests in and operates mining and mining-services businesses, particularly in China, leveraging listed and unlisted structures to hold underlying project interests.
YTD Price Performance: 495.48%
Average Trading Volume: 21,690,144
Technical Sentiment Signal: Buy
Current Market Cap: HK$15.07B
See more data about 0340 stock on TipRanks’ Stock Analysis page.