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China Resources Cement Holdings ( (HK:1313) ) has provided an announcement.
China Resources Building Materials Technology Holdings Limited, through its subsidiary Redland Concrete Limited, has secured a HKD1,000,000,000 term loan facility with a bank. A key condition of this loan is that China Resources (Holdings) Company Limited must maintain at least a 35% shareholding in the company, which currently stands at approximately 68.72%. Failure to maintain this shareholding could result in an event of default, making the loan immediately due and payable, impacting the company’s financial stability and stakeholder interests.
More about China Resources Cement Holdings
China Resources Cement Holdings is a company incorporated in the Cayman Islands, operating in the building materials industry. It focuses on the production and supply of cement and related products, with a significant market presence in Hong Kong.
YTD Price Performance: 17.14%
Average Trading Volume: 5,750
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $1.7B
For an in-depth examination of 1313 stock, go to TipRanks’ Stock Analysis page.