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01290 CHINA HUIRONG
RTNominal unchange0.920 0.000 (0.000%)
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14/01/2020 14:42

China Huirong (01290) to buy 10% of loan business

[ET Net News Agency, 14 January 2020] China Huirong Financial Holdings Limited (01290)
said its subsidiary Suzhou Huifang Tongda Information Technology Co., Ltd. has
conditionally agreed to purchase an aggregate of 10% of the equity interests in Suzhou
Wuzhong District Dongshan Agricultural Microfinance Co., Ltd. (the target company) for a
cash consideration of RMB30 million. After completion, the group will own a total of 70%
of the equity interests in the target company.
The principal business activity of the target company is to provide microfinancing in
the principal amount of generally up to RMB3 million for each loan to microenterprises,
individual entrepreneurs and individuals in Suzhou city, Jiangsu Province, the PRC. (RC)

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