BEIJING, July 3 (Reuters) - Property developer China Vanke's 000002.SZ biggest shareholder, state-owned Shenzhen Metro, will provide a loan of up to 6.2 billion yuan ($865.78 million) and has agreed to extend existing loans totalling 890 million yuan, it said on Thursday.
China Vanke said in a filing to the Shenzhen stock exchange that it will pledge equity in its property management service unit Onewo Inc 2602.HK as collateral for existing loans of 1.6 billion yuan.
($1 = 7.1612 Chinese yuan renminbi)
(Reporting by Ethan Wang, Yukun Zhang and Ryan WooEditing by David Goodman)
((Ethan.Wang@thomsonreuters.com;))
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.