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China Vanke Co ( (HK:2202) ) has issued an update.
China Vanke Co., Ltd. has entered into a connected transaction with Shenzhen Metro Group, a substantial shareholder holding approximately 27.18% of its shares. The agreement involves a loan of up to RMB2.8 billion provided by Shenzhen Metro Group, secured by asset collateral valued up to RMB4 billion, including a pledge of 211,530,417 Onewo Shares. This transaction, which exceeds 0.1% but is below 5% of applicable percentage ratios, is subject to reporting and announcement requirements under the Hong Kong Stock Exchange’s listing rules but is exempted from other regulatory requirements. The proceeds from the loan will be utilized to repay existing debts, which may enhance the company’s financial stability and operational capacity.
More about China Vanke Co
China Vanke Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, operating primarily in the real estate industry. It focuses on property development and management, serving as a major player in China’s housing market.
YTD Price Performance: 0.87%
Average Trading Volume: 10,458
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.44B
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