Shanghai Industrial Signs Three-Year Financial Services Deal With SIIC Finance

Shanghai Industrial Holdings ( (HK:0363) ) has shared an announcement.

Shanghai Industrial Holdings has entered into a three-year Financial Services Agreement with SIIC Finance, under which group companies will place deposits, obtain credit facilities and use other financial services from the group’s affiliated finance arm. Because SIIC Finance is an associate of the company’s controlling shareholder, the arrangement constitutes continuing connected transactions and, given the size of the proposed deposit balances, qualifies as a major transaction requiring independent shareholders’ approval, an independent board committee review and advice from an independent financial adviser, while the contemplated credit and other financial services fall within exemption thresholds under Hong Kong listing rules. The structure is designed to centralise treasury management within the SIIC group while subjecting large related-party deposit dealings to enhanced governance and minority investor safeguards through an upcoming extraordinary general meeting at which the controlling shareholder will abstain from voting.

The most recent analyst rating on (HK:0363) stock is a Buy with a HK$16.50 price target. To see the full list of analyst forecasts on Shanghai Industrial Holdings stock, see the HK:0363 Stock Forecast page.

More about Shanghai Industrial Holdings

Shanghai Industrial Holdings Limited is a Hong Kong–incorporated conglomerate controlled by state-owned Shanghai Industrial Investment (Holdings) Co. It operates as an investment holding company with interests in infrastructure, real estate and consumer-related businesses, focusing on PRC-related assets and projects that support Shanghai’s and the mainland’s long-term development strategies.

Average Trading Volume: 1,057,782

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$15.85B

For detailed information about 0363 stock, go to TipRanks’ Stock Analysis page.