News summary
CITIC Metal plans to reduce its holdings in Ivanhoe Mining by 2% within 12 months701pokertour, currently holding approximately 24%701pokertour.78% shares, with a market value of approximately RMB 30.7 billion.
Newsletter text
[CITIC Metal plans to reduce its stake in Ivanhoe Mining within 12 months] CITIC Metal (601061.SH) announced on May 26 that the company will choose an appropriate opportunity within the next 12 months based on the approval of the shareholders 'meeting. Sell some of its shares in Ivanhoe Mining Co., Ltd., a company listed on the Toronto Stock Exchange in Canada. The number of shares planned to be reduced this time does not exceed 25.3904 million shares, accounting for approximately 2% of Ivanhoe's total share capital. The specific reduction ratio will be determined based on actual implementation and must comply with Canadian securities regulations. As of April 30, 2024, CITIC Metal, through its wholly-owned subsidiary CITIC Metal Africa Investment Co., Ltd., holds a total of 315 million shares of Ivanhoe, accounting for approximately 24.78% of the total share capital. Based on Ivanhoe's share price that day, the market value of CITIC Metal's shares is estimated to be approximately RMB 30.7 billion.
