Minmetals Land Secures Multibillion Loan Facility

Minmetals Land Limited (HK:0230) has released an update.

Minmetals Land Limited has publicly disclosed the acceptance of a HK$1,500,000,000 revolving loan facility with an undisclosed bank, as per Listing Rule 13.18. The facility requires the company’s controlling shareholder, China Minmetals Corporation, to maintain a minimum 51% ownership and management control. The announcement also notes that China Minmetals Corporation currently holds approximately 61.88% of the issued share capital of the company.

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