Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H (HK:0564) has released an update.
Zhengzhou Coal Mining Machinery Group Co., Ltd. has announced a significant acquisition of shares in its subsidiary, Hengda Intelligent Control, increasing its stake from 85.0197% to a commanding 99.4925%. The transaction, part of the company’s strategic development plan to enhance efficiency and maximize value, involves a cash payment of RMB1,049,338,488 for a 14.4728% equity interest. This move is expected to bolster the company’s competitiveness and sustainability without requiring independent shareholder approval.
For further insights into HK:0564 stock, check out TipRanks’ Stock Analysis page.
