Dongfeng Motor Group shares rise amid restructuring plans
AI-Generated Summary
Dongfeng Motor Group Co. shares increased nearly 90% following announcements of a restructuring plan that may consolidate the competitive Chinese car market.
Shares in Dongfeng Motor Group Co. surged almost 90% in Hong Kong after the Chinese automaker announced its parent company plans to restructure. This move has led investors to speculate that it could kick start consolidation in the nation’s ultra competitive car market.
Dongfeng Motor Corp. is planning a restructuring with other central state-owned enterprise groups that may result in a change in its controlling shareholder. Dongfeng Motor Group shared this information in an exchange filing released on Sunday.
