UPDATE: Longwei Petroleum Investment Holding to Complete Huajie Purchase by Month-End; Up 28%, Earlier Went Near Yr Highs

By MidnightTrader.com Staff,

Shutterstock photo

Shares of China's Longwei Petroleum Investment Holding ( LPH ) have jumped 28% to $1.55 in afternoon trading after reaching as high as $1.65 in earlier trading. They are getting closer to year highs

The company said it will complete the purchase of the assets of Huajie Petroleum Co., a fuel storage depot in northern Shanxi Province, by the end of this month. LPH will acquire the assets of Huajie for a total purchase price of approximately $110.6 million.

LPH trades within a 52-week range of $0.82 - $1.83.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: LPH

More from MT Newswires


MT Newswires

MT Newswires

Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com