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Legend Upstar Holdings Limited ( (HK:0459) ) just unveiled an update.
Legend Upstar Holdings Limited announced that its indirect wholly owned subsidiary Legend Credit has entered into a mortgage loan agreement to provide a HK$15 million loan at an effective annual interest rate of 9.5% for a 24‑month term. The loan, repayable with monthly interest payments and principal due at maturity, is secured by a first legal charge over a residential property and two car parking spaces in Tuen Mun valued at approximately HK$40 million, and allows for early repayment subject to an early repayment fee if made before the 12th instalment. As the loan size triggers the relevant percentage ratios under Hong Kong listing rules, the transaction is classified as a discloseable transaction, requiring reporting and announcement, underscoring the growing scale of Legend Upstar’s credit operations and the regulatory oversight of its mortgage financing activities.
The most recent analyst rating on (HK:0459) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on Legend Upstar Holdings Limited stock, see the HK:0459 Stock Forecast page.
More about Legend Upstar Holdings Limited
Legend Upstar Holdings Limited, through its indirect wholly owned subsidiary Legend Credit, operates in the lending and mortgage financing business, offering secured loans backed by real estate collateral in Hong Kong. The group focuses on providing mortgage loans at commercial interest rates, supported by first legal charges over residential properties and parking spaces, reflecting its role in the local credit and property finance market.
Average Trading Volume: 1,390,091
Technical Sentiment Signal: Buy
Current Market Cap: HK$218.4M
For a thorough assessment of 0459 stock, go to TipRanks’ Stock Analysis page.