Planetree International Development Limited (HK:0613) has released an update.
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Planetree International Development Limited successfully settled a loan of approximately HK$125.7 million by receiving equivalent equity securities of Shengjing Bank Co., Ltd. The transaction, which involved 21,863,107 H shares of the bank, was completed on September 19, 2023, without any gain or loss reported. This strategic move involves a stake of about 0.25% in the bank, reflecting the company’s adeptness in handling loan settlements through equity acquisitions.
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