China National Building Material Co (HK:3323) has released an update.
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China National Building Material Co. (CNBM) is boosting its investment in CNBM Green Energy through a significant capital increase of approximately USD18.8 million. This move will see Tianshan Material, a subsidiary of CNBM, acquiring a 15% equity stake in CNBM Green Energy, enhancing its position in the green energy sector. The transaction is a connected one under Hong Kong’s listing rules, reflecting strategic growth in sustainable energy investments.
For further insights into HK:3323 stock, check out TipRanks’ Stock Analysis page.
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