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<Research>BOCI: CNBM (03323.HK) Buyback Cash Offer Favors Stock Price
Recommend 21 Positive 38 Negative 18 |
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CNBM (03323.HK) rallied this morning. It last printed at $3.61, up 3.1%. According to a BOCI research report, CNBM (03323.HK) recently announced a conditional cash offer, proposing to repurchase up to 841.7 million H-shares, accounting for 9.98% of the total share capital, at a price of $4.03 per share, marking a 15.14% premium over the previous trading day's closing price. Anticipating a significant quarterly improvement in CNBM's profitability from 4Q24, the broker upgraded the company from Hold to Buy, with a target price set at $3.87. If the buyback is approved to go ahead, the broker expected that the company may have further upside potential. AAStocks Financial News |
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