Min Xin Adjusts Loan Terms with Controlling Shareholder; Shares Gain 8%
MT Newswires Live
Jul 14
Min Xin Holdings (HKG:0222) has revised the terms of its shareholder loan agreement with controlling shareholder Vigour Fine, according to a July 11 Hong Kong bourse filing.
Shares of the company surged about 8% in Monday morning trade.
Under the supplemental agreement, the annual interest rate was reduced from 3-month Hong Kong Interbank Offered Rate (HIBOR) plus 1.6% to either 1-month or 3-month HIBOR plus 1%, depending on the company's choice.
All other terms of the facility remain unchanged.
Vigour Fine holds a 59.53% stake in Min Xin, the filing said.
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