Shougang Concord Announces Major Financial Agreements

Shougang Concord Grand (Group) Limited (HK:0730) has released an update.

Shougang Concord Grand (Group) Limited has announced a substantial acquisition and a renewal of its Master Facilities Agreement, as well as a new Technology License Agreement with its controlling shareholder, Shougang Group. These agreements, which are subject to shareholder approval, involve a significant financial commitment of approximately HK$2.15 billion over three years and will require compliance with listing rules due to the connected nature of the transactions. An independent committee and financial advisor are set to guide shareholders on the terms of the agreements.

For further insights into HK:0730 stock, check out TipRanks’ Stock Analysis page.