Jingneng Clean Energy Provides Counter Guarantee for Subsidiary Loan

MT Newswires Live2024-10-11

Beijing Jingneng Clean Energy's (HKG:0579) independent shareholders approved the disposal of a 40% equity interest in BJCE Australia.

Previously an indirect wholly-owned unit, BJCE Australia has become a connected subsidiary of the company due to the transaction, according to a Thursday filing with the Hong Kong Exchange.

Meanwhile, BJCE Australia owes BJCE HK loans amounting to 237.6 million yuan, the filing said.

Newtricity, a subsidiary of BJCE Australia, also obtained a loan facility of up to AU$157 million from HSBC and HSBC Sydney, for which Sinosure acted as guarantor.

The company said it provided Sinosure with a counter-guarantee.

The energy business company's shares were up nearly 3% on Thursday's close.

Price (HKD): $2.09, Change: $+0.060, Percent Change: +2.96%

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