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Hong Kong Finance Group Ltd. ( (HK:1273) ) has issued an announcement.
Hong Kong Finance Group Limited has agreed, through its lending arm HK Finance, to provide a new six‑month secured loan of HK$15 million at 17.4% per annum to a group of repeat borrowers, backed by second mortgages over high‑value residential and commercial properties in prime Hong Kong locations with an aggregate valuation of about HK$115.5 million. The proceeds will fully settle an existing loan to one of the borrowers, and when aggregated with previous facilities of HK$23 million extended within the past 12 months, the transaction reaches the threshold of a discloseable transaction under Hong Kong listing rules, underscoring the company’s continued deployment of capital into collateralised lending while indicating that management views the credit risk as manageable given the security, borrower track record and short loan tenor.
The most recent analyst rating on (HK:1273) stock is a Buy with a HK$0.50 price target. To see the full list of analyst forecasts on Hong Kong Finance Group Ltd. stock, see the HK:1273 Stock Forecast page.
More about Hong Kong Finance Group Ltd.
Hong Kong Finance Group Limited is a Hong Kong-based financial services provider engaged in money lending activities through its subsidiary HK Finance. The group focuses on secured loan financing, including mortgage-backed lending to individual and corporate borrowers in Hong Kong, with an emphasis on collateralised credit risk management and property-backed loans in prime locations.
Average Trading Volume: 181,789
Technical Sentiment Signal: Buy
Current Market Cap: HK$253.2M
See more insights into 1273 stock on TipRanks’ Stock Analysis page.