China National Building Material Co ( (HK:3323) ) has shared an update.
China National Building Material Co announced the closure of its conditional cash offer to buy back up to 841,749,304 H shares at HK$4.03 per share. The offer received valid acceptances for 1,765,036,367 H shares, significantly exceeding the maximum number intended for buyback. Consequently, the company will buy back and cancel the maximum number of shares, increasing the aggregate interest of the CNBM Parent Concert Group in the issued shares from approximately 45.02% to 50.01%. This strategic move is expected to consolidate the company’s control and potentially enhance its market positioning.
More about China National Building Material Co
China National Building Material Co is a joint stock limited company incorporated in the People’s Republic of China. It operates within the building materials industry, focusing on products and services related to construction and building materials.
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