HK-listed CITIC Resources set for best day in near 17 years on unit stake sale plans

South Manganese Investment

07/07/2020 07:41

** Shares of Chinese natural resources explorer CITIC
Resources Holdings Ltd  1205.HK  soar as much as 50% to
HK$0.435, their highest since March 6
    ** Stock trims early gains to HK$0.38, still up 31%, heading
for its best day since October 2003
    ** Co says there is a potential disposal of the equity
interests in its unit CITIC Dameng Holdings Ltd  1091.HK , but
no agreement has been reached (https://bit.ly/2C8mdbY)
    ** Says it is the single largest shareholder of CITIC Dameng
    ** Shares of manganese concentrates producer CITIC Dameng
soar as much as 92.6% to HK$0.47, highest since April 2019, and
heads for the best day since listing in November 2010  
    ** CITIC Dameng later trims gains to HK$0.365, still up
49.6% and tops the biggest percentage gainer among all listed
companies on the Hong Kong bourse in the afternoon
    ** The Hang Seng China enterprises index  .HSCE  slides
0.7%, while the benchmark index  .HSI  falls 0.8%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)