Shanxi Installation Group Co., Ltd. Class H ( (HK:2520) ) has provided an announcement.
Shanxi Installation Group Co., Ltd. has announced a connected transaction involving the provision of a guarantee to IDCOL for a loan extended to Envision Enterprise, a connected person of the company. This guarantee, amounting to USD 11 million, is part of the IDCOL Financing Loan Agreement and aims to support Bangladesh’s 66MW Koba wind power project, replacing a previous arrangement with CEXIM due to policy changes. The transaction is subject to shareholder approval at the upcoming AGM, and counter-guarantees will be provided by Shanxi CIG HK and Shanxi CIIC, allowing Shanxi Installation Group to recover 70% of its guarantee liabilities.
More about Shanxi Installation Group Co., Ltd. Class H
Shanxi Installation Group Co., Ltd. is a joint stock company based in the People’s Republic of China, operating in the construction and engineering industry. The company is involved in providing installation services and has a focus on infrastructure projects, with a significant market presence in Asia.
YTD Price Performance: -0.92%
Average Trading Volume: 6,666
Technical Sentiment Signal: Sell
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