Ruihe Data Technology's Investor Reassigns All Rights of Convertible Loan, Shares Down 3%

MT Newswires Live10-15

Ruihe Data Technology (HKG:3680) said an investor of the group, who had provided a convertible loan to one of the company's subsidiaries, Ruihe Data (Beijing) Technology, reassigned all matters, rights, and obligations, related to the said loan to HK Hesheng Investment, a Monday Hong Kong bourse filing said.

The company received a repayment notice regarding the convertible loan on Dec. 22, 2023, and was in discussion with the investor regarding the repayment or restructuring of the loan.

As of the date of the filing, the convertible loan has an outstanding principal amount of 20 million yuan, 2.3 million yuan in accrued interest, and 2.9 million in default interest.

The digital and intelligent marketing services provider's shares were down over 3% in recent trade.

Price (HKD): $0.92, Change: $-0.030, Percent Change: -3.16%

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