Chinalco Secures Financing to Boost Stake in Aluminum Corporation of China

Aluminum of China ( (HK:2600) ) just unveiled an update.

Aluminum Corporation of China Limited announced that its controlling shareholder, Chinalco, and concerted parties plan to increase their holdings of the company’s A and H shares by between RMB1 billion and RMB2 billion over up to twelve months, capped at 2% of total share capital. The funding will come from internal or self-raised resources of the entities implementing the increase.

To support this move and leverage regulatory policies encouraging shareholding increases, Chinalco has secured a loan commitment from Industrial and Commercial Bank of China’s Beijing branch for up to RMB1.8 billion, with a term of no more than three years, dedicated solely to boosting its A-share stake in Chalco. The initiative underscores Chinalco’s confidence in Chalco’s prospects and is positioned as a measure to protect minority investors and reinforce the company’s capital market presence.

The most recent analyst rating on (HK:2600) stock is a Buy
with a HK$11.20 price target.
To see the full list of analyst forecasts on Aluminum of China stock,
see the HK:2600 Stock Forecast page.