China Overseas Property Renews Financial Services Deal With Group Finance Unit

MT Newswires Live06-04

China Overseas Property (HKG:2669) entered into a three-year financial services master agreement with China State Construction Finance, according to a Wednesday Hong Kong bourse filing.

Under the agreement, China State Construction Finance will provide deposit, loan, and other financial services to the property management company on a non-exclusive basis through June 2029.

The company set a maximum daily deposit balance of 100 million yuan, including accrued interest.

Both companies are ultimately controlled by China State Construction Engineering (SHA:601668), making the arrangement a continuing connected transaction, the filing said.

Shares of China Overseas were down over 1% in Thursday morning trade.

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