National Chemistry Investment Group to increase its stake in China National Chemical Engineering Group
Click:0    DateTime:Mar.07,2024

On February 19, China National Chemical Engineering Group Corporation Ltd. (hereinafter referred to as “CNCEC”) announced its plan to increase the company’s share. National Chemistry Investment Group Corporation Ltd. (hereinafter referred to as “National Chemistry Investment”), the concerted action person of CNCEC, will increase the company's A shares over the next 12 months. The total amount of increase in holdings will be between RMB200 million and RMB400 million. 

The announcement shows that there is no price range set for this increase. National Chemistry Investment will implement the increase plan in a timely manner based on its reasonable assessment of CNCEC's stock value, taking into account the price fluctuations in the secondary market and the general trend of the capital market. The funds for this increase will come from National Chemistry Investment's own funds and self-raised funds.

Regarding the purpose of the increase, CNCEC stated it was mainly based on recognition of the company's value and confidence in its continued and stable future development.