China Everbright Greentech Unit Plans Sale of Underlying Assets for 653 Million Yuan

MT Newswires Live11-25

China Everbright Greentech (HKG:1257) indirect subsidiary Everbright Greentech Management (Shenzhen) plans to sell 653 million yuan of underlying assets to an asset-backed securities program to be listed in Shenzhen.

Shanghai AXA SPDB Assets Management will establish and manage the asset-backed securities, according to a Friday filing with the Hong Kong Exchange.

The first tranche of the securities will be divided into a priority tranche worth about 630 million yuan and a subordinated tranche worth 23 million yuan, the filing said.

Proceeds from the sale will be used to diversify its financing channels and provide additional capital for operating and investment activities.

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