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China Resources Cement Secures HKD1.3 Billion Loan with Shareholding Conditions

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China Resources Cement Secures HKD1.3 Billion Loan with Shareholding Conditions

China Resources Cement Holdings ( (HK:1313) ) just unveiled an update.

China Resources Cement Holdings, through its subsidiary Redland Concrete Limited, has secured a HKD1,300,000,000 term loan facility with a bank. This agreement mandates that China Resources (Holdings) Company Limited must maintain at least a 35% shareholding in the company, with current ownership at approximately 68.72%. The facility has a maturity of three years from the first drawdown date. If the shareholding requirement is not met, it could trigger a mandatory prepayment, making the entire loan amount immediately due.

More about China Resources Cement Holdings

YTD Price Performance: 17.14%

Average Trading Volume: 5,750

Technical Sentiment Consensus Rating: Hold

Current Market Cap: $1.7B

See more insights into 1313 stock on TipRanks’ Stock Analysis page.

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