CITIC Resources Seeks Shareholder Nod to Divest Remaining Alcoa Stake

MT Newswires Live05-07

CITIC Resources (HKG:1205) plans to seek shareholder approval for a mandate to dispose of its remaining stake in global aluminum producer Alcoa, according to a Wednesday Hong Kong bourse filing.

Shares of the natural resource company were up nearly 2% in Thursday morning trade.

The company said the proposed disposal could involve up to 1.7 million Alcoa CHESS depositary interests and 551,306 Alcoa shares, representing about 0.86% of Alcoa's issued share capital.

Assuming all holdings are sold at the minimum selling price of $50 per share, the aggregate consideration would be about $112.2 million, or HK$874.9 million.

The company said proceeds would be used for working capital, commodity trading operations, potential investment opportunities, and possible dividend distribution.

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

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2633160417?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-05-07 10:43","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2633160417","market":"sh","top_or_hot":-1,"title":"CITIC Resources Seeks Shareholder Nod to Divest Remaining Alcoa Stake","media":"MT Newswires Live","content":"<html><body><p> CITIC Resources (HKG:1205) plans to seek shareholder approval for a mandate to dispose of its remaining stake in global aluminum producer Alcoa, according to a Wednesday Hong Kong bourse filing.</p><p>Shares of the natural resource company were up nearly 2% in Thursday morning trade.</p><p>The company said the proposed disposal could involve up to 1.7 million Alcoa CHESS depositary interests and 551,306 Alcoa shares, representing about 0.86% of Alcoa's issued share capital.</p><p>Assuming all holdings are sold at the minimum selling price of $50 per share, the aggregate consideration would be about $112.2 million, or HK$874.9 million.</p><p>The company said proceeds would be used for working capital, commodity trading operations, potential investment opportunities, and possible dividend distribution.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CITIC Resources Seeks Shareholder Nod to Divest Remaining Alcoa Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCITIC Resources Seeks Shareholder Nod to Divest Remaining Alcoa Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2026-05-07 10:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> CITIC Resources (HKG:1205) plans to seek shareholder approval for a mandate to dispose of its remaining stake in global aluminum producer Alcoa, according to a Wednesday Hong Kong bourse filing.</p><p>Shares of the natural resource company were up nearly 2% in Thursday morning trade.</p><p>The company said the proposed disposal could involve up to 1.7 million Alcoa CHESS depositary interests and 551,306 Alcoa shares, representing about 0.86% of Alcoa's issued share capital.</p><p>Assuming all holdings are sold at the minimum selling price of $50 per share, the aggregate consideration would be about $112.2 million, or HK$874.9 million.</p><p>The company said proceeds would be used for working capital, commodity trading operations, potential investment opportunities, and possible dividend distribution.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1124","symbol_name":"贸易公司与经销商","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2633160417","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2633160417","pubTimestamp":1778121795,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"CITIC Resources  plans to seek shareholder approval for a mandate to dispose of its remaining stake in global aluminum producer Alcoa, according to a Wednesday Hong Kong bourse filing.Shares of the natural resource company were up nearly 2% in Thursday morning trade.The company said the proposed disposal could involve up to 1.7 million Alcoa CHESS depositary interests and 551,306 Alcoa shares, representing about 0.86% of Alcoa's issued share capital.Assuming all holdings are sold at the minimum selling price of $50 per share, the aggregate consideration would be about $112.2 million, or HK$874.9 million.The company said proceeds would be used for working capital, commodity trading operations, potential investment opportunities, and possible dividend distribution.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1124":"贸易公司与经销商","01205":"中信资源","00267":"中信股份","BK4153":"铝","BK1230":"工业集团企业","AA":"美国铝业","BK4588":"碎股","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","BK4585":"ETF&股票定投概念"},"translate_title":"中信资源寻求股东同意剥离美铝剩余股份","themeId":"f6f7c9f6a0174df79daf9f1dfd21f836","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AA":1.5,"00267":1.5,"01205":1},"content_text":"CITIC Resources (HKG:1205) plans to seek shareholder approval for a mandate to dispose of its remaining stake in global aluminum producer Alcoa, according to a Wednesday Hong Kong bourse filing.Shares of the natural resource company were up nearly 2% in Thursday morning trade.The company said the proposed disposal could involve up to 1.7 million Alcoa CHESS depositary interests and 551,306 Alcoa shares, representing about 0.86% of Alcoa's issued share capital.Assuming all holdings are sold at the minimum selling price of $50 per share, the aggregate consideration would be about $112.2 million, or HK$874.9 million.The company said proceeds would be used for working capital, commodity trading operations, potential investment opportunities, and possible dividend distribution.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2633160417","isCrawlerRequest":true}