Brief: Sino Credit says Excellent Sino entered into an Equity Transfer Agreement

Tong Tong AI Social

19/02/2016 14:06

Feb 19 (Reuters) - Sino Credit Holdings Ltd  0628.HK : 
 * On 18 February 2016, Excellent Sino, a wholly owned subsidiary of the company, entered into an Equity Transfer Agreement with Gome Finance 
 * Says gross proceeds from the subscriptions are expected to be approximately HK$1.59 billion 
 * The initial consideration for the equity transfer amounted to RMB49.7 million 
 * Says company will use internal resources to finance the consideration for the equity transfer 
 * Says proceeds will be used for the expansion of the group's existing financial service business 
 * On 18 February co entered into Swiree Supplemental Agreement, Richlane Supplemental Agreement and the Best Global 1 Supplemental Agreement 
 * Application has been made for the resumption of trading in the shares on the stock exchange with effect from 9:00 a.m. on 22 February 2016 
 
 * Source text for Eikon  ID:nHKSb6jVwr  
 
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