Stock Track | China Aviation Soars 3.03% on Merger News Between Parent CNAF and Sinopec
Stock Track
Jan 09
China Aviation (G92.SI) saw its stock price surge by 3.03% during the intraday session on Friday. This significant movement comes after the announcement that its parent company, China National Aviation Fuel (CNAF), will merge with Sinopec, a Chinese state-owned oil and gas enterprise.
The merger, if completed, is expected to result in Sinopec absorbing all of CNAF’s assets and operations. This development is likely to have a positive impact on China Aviation's business prospects, leading to increased investor confidence and the observed stock price rise.
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