C C Land Secures HK$1.25 Billion Loan Linked to Controlling Shareholder Covenants

C C Land Holdings ( (HK:1224) ) has provided an announcement.

C C Land Holdings has secured a new HK$1.25 billion term loan facility with a 36‑month tenor from a syndicate of financial institutions, providing additional funding flexibility for the group. The facility is subject to change-of-control style covenants tied to chairman and controlling shareholder Mr. Cheung Chung Kiu maintaining his position as the single largest shareholder, at least a 35% beneficial stake, and control of the company, with any breach potentially triggering cancellation of commitments and immediate repayment of the loan and related amounts.

The most recent analyst rating on (HK:1224) stock is a Sell with a HK$1.00 price target. To see the full list of analyst forecasts on C C Land Holdings stock, see the HK:1224 Stock Forecast page.

More about C C Land Holdings

C C Land Holdings Limited is a Bermuda-incorporated company listed on the main board of the Hong Kong Stock Exchange. The group operates in the property sector, with its chairman and controlling shareholder, Mr. Cheung Chung Kiu, holding a dominant stake of about 73.96% of the issued share capital as of the announcement date.

Average Trading Volume: 64,405

Technical Sentiment Signal: Hold

Current Market Cap: HK$4.66B

For detailed information about 1224 stock, go to TipRanks’ Stock Analysis page.