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COSCO SHIPPING Energy Transportation Co ( (HK:1138) ) has provided an announcement.
COSCO SHIPPING Energy Transportation Co., Ltd. has announced a proposed acquisition of the entire equity interest in Shanghai Liquefied Gas for RMB598.2895 million. This transaction, involving Dalian COSCO Energy and COSCO SHIPPING Investment Dalian, is subject to terms outlined in the Shanghai Liquefied Gas Equity Transfer Agreement. The acquisition is considered a connected transaction under Hong Kong Listing Rules, requiring reporting and announcement but exempt from independent shareholder approval. The deal reflects strategic consolidation within the company, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (HK:1138) stock is a Buy with a HK$11.50 price target. To see the full list of analyst forecasts on COSCO SHIPPING Energy Transportation Co stock, see the HK:1138 Stock Forecast page.
More about COSCO SHIPPING Energy Transportation Co
COSCO SHIPPING Energy Transportation Co., Ltd. is a joint stock limited company incorporated in China, primarily engaged in the energy transportation industry. The company focuses on shipping liquefied gas and other energy resources, positioning itself as a significant player in the maritime transportation sector.
Average Trading Volume: 29,897,417
Technical Sentiment Signal: Buy
Current Market Cap: HK$68.77B
For a thorough assessment of 1138 stock, go to TipRanks’ Stock Analysis page.