Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
China International Development Corporation Limited ( (HK:0264) ) has shared an announcement.
China International Development Corporation Limited has entered into a non-legally binding memorandum of understanding to acquire a majority stake in CarbonTech Asia Pacific Pty Ltd. This acquisition aims to strengthen the company’s position in the clean technology sector by leveraging CarbonTech’s expertise in reducing carbon emissions and improving engine efficiency. The proposed acquisition is subject to due diligence and the execution of a formal agreement, with an exclusivity period of six months to finalize the deal. The move could potentially enhance the company’s market presence and offer significant benefits to stakeholders by aligning with global trends towards sustainability.
More about China International Development Corporation Limited
China International Development Corporation Limited operates in the clean technology industry, focusing on optimizing engine performance to reduce carbon build-up, improve fuel efficiency, and decrease harmful emissions. The company is involved in the acquisition of businesses that align with its goals of enhancing automotive performance and lifespan.
YTD Price Performance: 20.51%
Average Trading Volume: 2,830,305
Technical Sentiment Signal: Sell
Current Market Cap: HK$872.1M
Find detailed analytics on 0264 stock on TipRanks’ Stock Analysis page.