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China Vanke Co ( (HK:2202) ) has provided an announcement.
China Vanke Co., Ltd. has announced a board resolution approving a shareholder’s loan from its substantial shareholder, Shenzhen Metro Group Co., Ltd., amounting to up to RMB1,666 million. This loan is intended to repay the principal and accrued interest on bonds issued by the company in the open market. The loan, which has a term not exceeding three years, features an interest rate based on the 1-year Loan Prime Rate with a floating point adjustment. This financial arrangement is expected to aid China Vanke in managing its debt obligations, potentially strengthening its financial stability and market position.
The most recent analyst rating on (HK:2202) stock is a Hold with a HK$5.60 price target. To see the full list of analyst forecasts on China Vanke Co stock, see the HK:2202 Stock Forecast page.
More about China Vanke Co
China Vanke Co., Ltd. is a prominent real estate company in China, primarily engaged in property development and management. The company focuses on residential and commercial real estate projects and has a significant market presence in the Chinese property sector.
Average Trading Volume: 40,791,447
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$75.11B
For an in-depth examination of 2202 stock, go to TipRanks’ Overview page.