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China Resources Building Materials Technology Holdings ( (HK:1313) ) just unveiled an update.
China Resources Building Materials Technology Holdings has entered into a facility letter with a bank for an uncommitted revolving loan facility of up to HKD 750 million, available in Hong Kong dollars or certain other currencies. Borrowings under the facility, including accrued interest, must be repaid or re-borrowed on the last day of each interest period of up to six months.
As a key condition, the company has undertaken to procure that China Resources (Holdings) Company Limited will maintain at least a 51% shareholding in the company, reinforcing the parent’s controlling stake. The lender retains absolute discretion to amend or cancel the facility and to demand immediate repayment, and the company will continue to make required disclosures in its interim and annual reports as long as these obligations remain in force.
The most recent analyst rating on (HK:1313) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on China Resources Building Materials Technology Holdings stock, see the HK:1313 Stock Forecast page.
More about China Resources Building Materials Technology Holdings
China Resources Building Materials Technology Holdings is a Hong Kong-listed company in the building materials sector. It operates under the control of state-owned parent China Resources (Holdings) Company Limited, which currently owns about 68.72% of its issued share capital, giving the group strategic influence over the company’s financing and governance decisions.
Average Trading Volume: 15,814,337
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$10.75B
See more insights into 1313 stock on TipRanks’ Stock Analysis page.