China Vanke's Two Unit Apply for Loans

MT Newswires Live01-06 12:07

China Vanke's (SHE:000002, HKG:2202) units applied for loans from China Merchants Bank (HKG:3968, SHA:600036), with equities as guarantees for the loans.

The first unit, Shenzhen Wanwei Logistics Investment, applied for a 10-year bank loan of 515 million yuan, according to a Shenzhen Stock Exchange filing on Jan. 3.

Another subsidiary of the property developer, Shenzhen Youxinda Supply Chain Group, provided an equity pledge guarantee of 88.89% of its shares for the loan.

Moreover, China Vanke's unit, Ningbo Wanwei Cold Chain Logistics, applied for a 12-year loan of 174 million yuan, with another subsidiary, Shenzhen Wanshen Cold Chain Logistics, providing a pledge guarantee of 100% of Ningbo Wanwei Cold Chain's Equity, the filing said.

China Vanke's Hong Kong shares rose less than 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

We need your insight to fill this gap
Leave a comment