Raffles Financial Group Ltd (TSE:RICH) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Raffles Financial Group Ltd (RFG) has successfully arranged the transfer of C$20 million worth of public-listed shares from a Hong Kong financial institution as a refund for a deposit held under a Solution As A Service (SaaS) Agreement in China. Due to foreign exchange controls, the transfer provides a resolution for repatriating funds, with RFG’s CEO holding the shares in trust until a brokerage account is established. These assets will subsequently be regarded as held-for-sale to support RFG’s business development.
For further insights into TSE:RICH stock, check out TipRanks’ Stock Analysis page.