HK-listed Minsheng Education hits 4-week high, secures credit

Minsheng Education

27/08/2018 07:19

** Stock of Minsheng Education Group Co Ltd  1569.HK  rises
12.3 pct to HK$1.74, its highest since Aug. 1, after the Chinese
education services provider secures a credit line from ICBC to
support its future development
    ** Co says ICBC will provide loan financing amounting to 10
billion yuan ($1.45 billion) in the next 3 years to support the
firm's funding needs in developing education-related businesses
 urn:newsml:reuters.com:*:nFWN1VH01M
    ** Co says the deal will provide it with the necessary
long-term stable financing arrangement to support its expansion
and construction of campuses with lower cost of capital
    ** Minsheng has underperformed the Hang Seng Utilities Index
sector  .HSNU  by 12.8 percentage points in the past month
    ** As of 0605 GMT, about 18.74 million shares of the
Beijing-based company have been traded, compared with their
30-day moving average of 11.82 million shares a day    
   ($1 = 6.8740 Chinese yuan)

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