China Tianbao's Controlling Shareholder Pledges Shares for $45 Million Loan Facility

MT Newswires Live

2025/01/15

China Tianbao Group Development's (HKG:1427) controlling shareholder Jixiang International Industrial pledged 263,380,800 company shares to Ninety Nine Dragons as collateral for a $45 million loan facility, a Wednesday bourse filing said.

Jixiang International Industrial owns a 67.66% stake in the property development company, while the pledged shares represent around 30% of the company's issued share capital.

Jixiang International Industrial is the security agent for the loan facility.

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