Landsea Green Properties Co., Ltd. (HK:0106) has released an update.
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Landsea Green Management Limited’s subsidiary, LHC, has defaulted on financial covenants in a loan agreement with East West Bank, resulting in the bank taking ownership of pledged shares, reducing the company’s stake in Landsea Homes to 24.9%. The company is evaluating the impact of this event and advises shareholders to exercise caution with their transactions.
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