Industrials, Technology, Consumer Discretionary Jun 29, 2021 06:13 PM (GMT+8)
Dongfang Group announced that it is planning to purchase more than 70% equity and creditor's rights of Huilan Investment Co., Ltd. held by the controlling shareholder Dongfang Group Co., Ltd. by issuing shares and paying cash. Huilan's wholly-owned subsidiary currently holds 30.55% of the shares of United Energy Group Co., Ltd., which is an oil and gas exploration and development enterprise listed on the main board of the stock exchange of Hong Kong, mainly engaged in upstream oil and gas exploration, production, development and operation. The company's shares have been suspended since the opening of the market on June 30 (Wednesday), and the suspension is expected to last no more than 10 trading days.
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