HK-listed China Xinhua Education hits 5-week high on ICBC's credit support

China Xinhua Education

04/09/2019 04:59

** Shares of China Xinhua Education Group Ltd  2779.HK 
climb as much as 7.6% to HK$2.83, their highest since Aug. 2
    ** China's higher and secondary vocational education service
provider says its unit, Anhui Xinhua Group Investment, enters
into a strategic cooperation agreement with Hefei Branch of the
Industrial and Commercial Bank of China Ltd  1398.HK 
 601398.SS  (ICBC) in funding project investment  urn:newsml:reuters.com:*:nFWN25U0UV
    ** Says ICBC will provide Anhui Xinhua with credit support
of not less than 5 billion yuan ($704.94 million) in the next 5
years in short-term financing, project loans, syndicated loans,
direct investment in wealth management plans and M&A loans
    ** As of Tuesday's close, the stock of the education firm
had risen 36.3% this year
    ** The Hang Seng China enterprises index  .HSCE  climbs
1.2%, and the benchmark index  .HSI  rises 1.3%


($1 = 7.0928 Chinese yuan renminbi)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)