China Merchants Energy Shipping (SHA:601872) agreed to apply for a 443 million yuan loan for a plan to repurchase shares, a Monday filing on the Shanghai Stock Exchange said.
The agreement was signed with the Shenzhen branch of China Merchants Bank (HKG:3968, SHA:600036).
The loan has a 12-month term and an interest rate of no more than 2.25% in principle, the shipping company said.
Shares of the company rose nearly 2% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments