Pak Tak International Released From Guarantees on 279 Million Yuan Loans; Shares Up 13%
MT Newswires Live
Sep 17
Pak Tak International (HKG:2668) said Shenzhen Yunfeng Investment has unconditionally released the company from its corporate guarantees related to 279 million yuan of loans, according to a Wednesday Hong Kong bourse filing.
The loan enforcement rights were transferred from Hua Xia Bank's Shenzhen branch to China Cinda Asset Management's Shenzhen branch and subsequently to Shenzhen Yunfeng, with a Shenzhen court ruling that the assignment was lawful.
Shenzhen Yunfeng has also agreed to seek withdrawal of compulsory execution proceedings against Pak Tak, the company said.
Shares of the firm were up nearly 13% in Thursday morning trade.
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.