CNPC Slightly Lifts Controlling Stake in PetroChina Through A and H Share Purchases
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The latest update is out from PetroChina Company ( (HK:0857) ).
PetroChina has announced that its controlling shareholder, China National Petroleum Corporation, has increased its stake in the company by purchasing 30 million A shares on the Shanghai Stock Exchange, while CNPC’s wholly owned subsidiary Fairy King Investments Ltd. acquired an additional 11.896 million H shares in Hong Kong. Following these transactions, CNPC’s aggregate holding in PetroChina has risen slightly from about 82.33% to approximately 82.35% of the company’s issued share capital, and the group has signaled that it will continue to raise its shareholding under an existing increase plan, with PetroChina committing to ongoing disclosure as the plan progresses.
The most recent analyst rating on (HK:0857) stock is a Buy with a HK$10.00 price target. To see the full list of analyst forecasts on PetroChina Company stock, see the HK:0857 Stock Forecast page.
More about PetroChina Company
PetroChina Company Limited is a major Chinese integrated oil and gas producer and distributor, engaged in exploration, development, refining, and marketing of petroleum and natural gas products, with its shares listed in both Shanghai and Hong Kong and controlled by state-owned China National Petroleum Corporation (CNPC).
YTD Price Performance: 42.76%
Average Trading Volume: 102,884,369
Technical Sentiment Signal: Buy
Current Market Cap: HK$1940.2B
For an in-depth examination of 0857 stock, go to TipRanks’ Overview page.
