tiprankstipranks
China Huarong Sells Majority Stake
Company Announcements

China Huarong Sells Majority Stake

China Huarong Asset Management Co., Ltd. Class H (HK:2799) has released an update.

Don't Miss Our Christmas Offers:

China Huarong Asset Management Co., Ltd. has entered into an agreement with CITIC Group to sell 60% of its shares in Financial Leasing Company for RMB11.99 billion, reducing its stake to 19.92% and resulting in Financial Leasing Company no longer being a subsidiary. This major transaction, which is also a connected transaction due to CITIC Group’s status as a substantial shareholder, is subject to shareholder and regulatory approval. Investors are cautioned as the transaction’s completion is not guaranteed.

For further insights into HK:2799 stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks HongKong Auto-Generated NewsdeskChina CITIC Announces Key Financial Meeting for 2024
TipRanks HongKong Auto-Generated NewsdeskLeadership Changes at China CITIC Financial Asset Management
TipRanks HongKong Auto-Generated NewsdeskChina CITIC Announces Shareholder Meeting and Document Delay
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App