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Zijin Mining Group Co ( (HK:2899) ) has provided an update.
Zijin Mining Group Co., Ltd. announced the resolution from its extraordinary board meeting to fully subscribe to a private placement of A shares by its subsidiary, Fujian Longking Co., Ltd. The subscription aims to raise up to RMB2 billion to bolster Longking’s working capital. This strategic move is expected to increase Zijin’s stake in Longking to 33.76%, enhancing its control and influence. Since acquiring a controlling interest in Longking in 2022, Zijin has driven significant improvements in Longking’s financial performance and market position, particularly in the environmental protection and new energy sectors.
The most recent analyst rating on (HK:2899) stock is a Buy with a HK$36.00 price target. To see the full list of analyst forecasts on Zijin Mining Group Co stock, see the HK:2899 Stock Forecast page.
More about Zijin Mining Group Co
Zijin Mining Group Co., Ltd. is a prominent company in the mining industry, primarily engaged in the exploration and development of mineral resources. It focuses on the production of gold, copper, and other metals, positioning itself as a leading player in the global mining sector.
Average Trading Volume: 70,027,312
Technical Sentiment Signal: Buy
Current Market Cap: HK$848.7B
Find detailed analytics on 2899 stock on TipRanks’ Stock Analysis page.