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The latest update is out from Zijin Mining Group Co ( (HK:2899) ).
Zijin Mining Group Co, through its subsidiary Zijin International Holdings, announced its intention to acquire a controlling stake in Zangge Mining Company Limited. This acquisition will increase Zijin’s shareholding in Zangge Mining to 25%, providing it with controlling power and necessitating the consolidation of Zangge Mining’s financial statements with its own. The transaction, valued at approximately RMB13.7 billion, has been approved by Zijin’s board and is classified as a discloseable transaction under the Listing Rules. While the acquisition marks a significant strategic move for Zijin Mining, it involves certain investment risks due to pending conditions.
More about Zijin Mining Group Co
YTD Price Performance: 3.28%
Average Trading Volume: 31,826
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $57.77B
For a thorough assessment of 2899 stock, go to TipRanks’ Stock Analysis page.
