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Towngas China Co ( (HK:1083) ) has provided an update.
Towngas China Co announced the disposal of its equity interests in subsidiaries engaged in rooftop photovoltaic power generation projects to an asset-backed securities program, raising approximately RMB470 million. This move is part of the company’s strategy to improve liquidity through securitization of its solar assets while retaining a stake in the profits. The proceeds will be used for further investments in renewable energy projects, debt repayment, and general working capital.
The most recent analyst rating on (HK:1083) stock is a Buy with a HK$3.45 price target. To see the full list of analyst forecasts on Towngas China Co stock, see the HK:1083 Stock Forecast page.
More about Towngas China Co
Towngas China Co is involved in the energy sector, focusing on rooftop photovoltaic power generation projects and energy storage power stations in the People’s Republic of China.
Average Trading Volume: 5,278,988
Technical Sentiment Signal: Buy
Current Market Cap: HK$11.35B
For a thorough assessment of 1083 stock, go to TipRanks’ Stock Analysis page.