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Aluminum of China ( (HK:2600) ) has shared an announcement.
Yunnan Aluminum, a subsidiary of Aluminum of China, has announced its intention to acquire minority equity interests in three subsidiaries, Yunlv Yongxin, Yunlv Runxin, and Yunlv Hongxin, from Yunnan Metallurgical. This acquisition will increase Yunnan Aluminum’s ownership to 96.0766%, 97.4560%, and 100% in these subsidiaries, respectively. The transaction, considered a connected transaction under Hong Kong Listing Rules, is subject to reporting and announcement requirements but does not require independent shareholders’ approval. However, it requires approval at a general meeting according to Shanghai Stock Exchange rules, highlighting the strategic move to consolidate control over its subsidiaries.
The most recent analyst rating on (HK:2600) stock is a Buy with a HK$12.50 price target. To see the full list of analyst forecasts on Aluminum of China stock, see the HK:2600 Stock Forecast page.
More about Aluminum of China
Aluminum of China, also known as Chinalco, operates in the aluminum industry, focusing on the production and distribution of aluminum and its related products. The company is a major player in the global market, with a focus on expanding its operations and market share.
Average Trading Volume: 66,436,883
Technical Sentiment Signal: Buy
Current Market Cap: HK$193.5B
Find detailed analytics on 2600 stock on TipRanks’ Stock Analysis page.