CR Construction Secures HK$100 Million Facility Tied to Controlling Shareholder Covenant

CR Construction Group Holdings Limited ( (HK:1582) ) has issued an update.

CR Construction Group Holdings Limited has announced that its wholly owned unit, CR Construction Company Limited, has entered into a new bank facility agreement for up to HK$100 million, maturing on 11 July 2027, to support the group’s daily business operations. As part of the loan terms, Zhejiang Construction Investment Group Co., Ltd. must remain the controlling shareholder of the company throughout the facility period, with any change of control without the lender’s consent constituting an event of default and triggering mandatory prepayment, underscoring the lender’s reliance on the current ownership structure and committing the company to ongoing disclosure of this covenant in its interim and annual reports.

The most recent analyst rating on (HK:1582) stock is a Buy with a HK$0.41 price target. To see the full list of analyst forecasts on CR Construction Group Holdings Limited stock, see the HK:1582 Stock Forecast page.

More about CR Construction Group Holdings Limited

CR Construction Group Holdings Limited is a Hong Kong-listed construction company, operating through its wholly owned subsidiary CR Construction Company Limited. The group is ultimately controlled by Zhejiang Construction Investment Group Co., Ltd., which indirectly holds about 72.23% of the company’s issued shares, positioning it as the controlling shareholder under Hong Kong listing regulations.

Average Trading Volume: 265,669

Technical Sentiment Signal: Sell

Current Market Cap: HK$172.5M

For a thorough assessment of 1582 stock, go to TipRanks’ Stock Analysis page.