China Harmony Auto Announces Major Equity Disposal and Capital Restructuring

China Harmony Auto Holding Limited ( (HK:3836) ) has shared an update.

China Harmony Auto Holding Limited has announced a major transaction involving the disposal of a 45% equity interest in a disposal company, along with shareholder’s loans, to EGL, a company wholly owned by Mr. Feng. The transaction, valued at RMB330 million, will be offset against existing loans owed by China Harmony to EGL. The company plans a capital restructuring to facilitate the disposal, which will include converting shareholder loans into preferred loans and convertible notes. This transaction is significant as it constitutes a major transaction under the Hong Kong Stock Exchange’s listing rules, indicating a strategic shift in the company’s financial and operational structure.

More about China Harmony Auto Holding Limited

China Harmony Auto Holding Limited is a company incorporated in the Cayman Islands with limited liability, operating within the automotive industry. The company focuses on the sale and servicing of automobiles, and it is listed on the Hong Kong Stock Exchange under the stock code 03836.

Average Trading Volume: 527,601

Technical Sentiment Signal: Sell

Current Market Cap: HK$892.6M

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