Arrail Group Ltd. (HK:6639) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Arrail Group Ltd. has bolstered its financial security by securing an additional pledge of 8.5 million shares from Mingda, linked to a loan agreement involving its controlling shareholder, Mr. Zou. This move increases the total pledged shares to over 23 million, enhancing the company’s security for the $11 million loan. The transaction, while a connected one under listing rules, is exempt from requiring independent shareholder approval.
For further insights into HK:6639 stock, check out TipRanks’ Stock Analysis page.