Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
China Industrial Securities International Financial Group Ltd. ( (HK:6058) ) has provided an announcement.
China Industrial Securities International Financial Group Limited has secured an uncommitted loan facility of up to US$30 million from Standard Chartered Bank (Hong Kong) Limited. The facility includes a condition that an event of default will occur if controlling shareholder Industrial Securities Co., Ltd. ceases to maintain its controlling position and management control over the company, and the company plans to provide ongoing disclosures while this obligation remains in force.
Separately, the company has agreed to provide a guarantee, capped at US$30 million through internal controls, in favor of Standard Chartered Bank to secure obligations of its wholly owned subsidiary, China Industrial Securities International Brokerage Limited, under a short-term uncommitted facility. The guarantee does not constitute a notifiable or connected transaction under Hong Kong listing rules, and the board is making this voluntary disclosure to update shareholders and potential investors on the group’s latest financing and risk management arrangements.
The most recent analyst rating on (HK:6058) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on China Industrial Securities International Financial Group Ltd. stock, see the HK:6058 Stock Forecast page.
More about China Industrial Securities International Financial Group Ltd.
China Industrial Securities International Financial Group Limited is a Hong Kong-listed financial services provider incorporated in the Cayman Islands, operating under stock code 6058. The company is controlled by Industrial Securities Co., Ltd., which holds about 60.24% of its issued share capital and maintains management control over the group.
Average Trading Volume: 1,694,631
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.68B
For a thorough assessment of 6058 stock, go to TipRanks’ Stock Analysis page.