China Hongqiao climbs on securing strategic investors in alloys unit

China Hongqiao

22/12/2023 05:49

** Shares of China Hongqiao Group  1378.HK  climb 2.9% to
HK$6.38, on track for the fourth straight session of gains
    **  Co says eight investors have agreed to buy about 4.7%
stake in its non-ferrous metal alloys unit Shandong Hongtuo
Industrial for an aggregate 2.96 bln yuan ($414.1 mln)
 urn:newsml:reuters.com:*:nFWN3DG090
    ** Says introduction of the strategic shareholders will help
further deepen cooperation with the strategic investors and
bring positive strategic significance to future development
    ** Hong Kong's material index  .HSCIM  drops 3.6% and Hang
Seng Index  .HSI  falls 1.3%
    ** Stock down 12.7% YTD

($1 = 7.1481 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))