Zhurong Global Limited
Mason (0273) lends HK$350m to someone secured on shares of something
| Disclosure of interest
Company announcement, 27-Oct-2016
Deliberately vague, but from a subsequent disclosure of interest we can tell you that the borrower is a subsidiary of Shenzhen-listed Zhonghong Holding Co Ltd (0979.SZ) and the loan is secured on 229.948m shares (66.1%) of Ascent (0264) which it took over last year at $1.994 per share. The loan is HK$1.52 per Ascent share, but they closed on 4-Nov-2016 at $1.24 and the NAV is only $0.179 per share. Let's hope the parent is good for the guarantee.
Company announcement, 27-Oct-2016
Deliberately vague, but from a subsequent disclosure of interest we can tell you that the borrower is a subsidiary of Shenzhen-listed Zhonghong Holding Co Ltd (0979.SZ) and the loan is secured on 229.948m shares (66.1%) of Ascent (0264) which it took over last year at $1.994 per share. The loan is HK$1.52 per Ascent share, but they closed on 4-Nov-2016 at $1.24 and the NAV is only $0.179 per share. Let's hope the parent is good for the guarantee.
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