tiprankstipranks
China Molybdenum Divests Subsidiary for RMB2.9 Billion
Company Announcements

China Molybdenum Divests Subsidiary for RMB2.9 Billion

China Molybdenum Co (HK:3993) has released an update.

Don't Miss our Black Friday Offers:

China Molybdenum Co. has entered into an agreement with CITIC Guoan Industry Group Co., Ltd. to sell a 65.1% stake in subsidiary Xinjiang Luomu for RMB2.9 billion, leading to Xinjiang Luomu’s financials no longer being consolidated with the company’s post-disposal. The deal, subject to shareholder approval, will take effect after the first payment installment and the completion of necessary industrial and commercial registration.

For further insights into HK:3993 stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks HongKong Auto-Generated NewsdeskChina Molybdenum’s 2024 Meeting to Shape Future Moves
TipRanks HongKong Auto-Generated NewsdeskChina Molybdenum Co Announces Key Shareholder Meeting
TipRanks HongKong Auto-Generated NewsdeskChina Molybdenum Co. Prepares New Deals with CATL and KFM
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