Chongqing Iron & Steel Co., Ltd. Class H (HK:1053) has released an update.
Chongqing Iron & Steel Co. Ltd. has disclosed that its de facto controller’s subsidiary, Huabao Investment, intends to boost its stake in the company by investing between RMB150 million to RMB300 million using internal funds over the next 12 months. The move reflects confidence in the firm’s future growth and investment value, with the purchase price capped at RMB2.00 per share. Investors are cautioned about potential risks due to market fluctuations that could affect the implementation of this shareholding increase plan.
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