BUZZ-China's Shenghe gains on raising takeover offer for Peak Rare Earth** Shenghe Resources 600392.SS rises ~5% to 22.77 yuan; set for biggest one-day pct gain since August 29
** Stock on path to snap four straight sessions of decline
** Chinese rare-earths producer to raise bid for Peak Rare Earth PEK.AX to A$195 mln ($126.7 mln) from A$158 mln to speed up its takeover of Australia-based rare-earths explorer
** PEK soars as much as 26.9% to A$0.425, highest since August 2023, on Shenghe's offer upgrade to A$0.443 from A$0.359
** YTD, Shenghe gains 120%; PEK surges 296.8%
($1 = A$1.5389)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments