China Coal Energy's parent plans share increase

China Coal Energy (SSE:601898) announced that its controlling shareholder, China Coal Group, plans to increase its holdings in the company. The planned increase will involve the purchase of A-shares through the Shanghai Stock Exchange, using methods like centralized bidding and block trades. The total investment will range from a minimum of CNY 50 million to a maximum of CNY 80 million, with the purchased shares not exceeding 2% of the company's total share capital. China Coal Group cited confidence in China Coal Energy's value and future prospects as the reason for the planned increase. The implementation period for the share increase is within 12 months from the date of the announcement. The funds will come from China Coal Group's own capital and self-raised funds. China Coal Group commits not to reduce its holdings during the implementation period.