Lai Sun Development Co (HK:0488) has released an update.
Lai Sun Development Co has announced a significant amendment to its HRL Shareholders’ Loan Agreement, involving the repayment of an investor loan and a buyback of shares in Harmonic Run. Rosy Commerce will repay the loan of approximately $4.4 million and complete the buyback of shares, making Harmonic Run a wholly-owned subsidiary by 2025. This development is part of Rosy Commerce’s investment strategy in its Novotown project, a major cultural and entertainment hub in Hengqin, China.
For further insights into HK:0488 stock, check out TipRanks’ Stock Analysis page.