Hong Kong Stock Market News | China Jinmao surged more than 4%, reportedly in talks with banks for refinancing a HKD 4 billion loan

China Jinmao rose more than 4%, up 4% as of the deadline, closing at HKD 0.52 with a turnover of HKD 3.62 million. On the news front, in response to previous market reports, China Jinmao is in discussions with banks regarding refinancing a HKD 4 billion loan. A source close to China Jinmao confirmed, "The news is true, and we are negotiating with the banking consortium for an extension." It is reported that the HKD 4 billion loan will mature in July. Additionally, the source revealed that the company has sufficient funds to repay the USD 250 million bonds due on June 21. Furthermore, based on the latest equity disclosure data from the Hong Kong Stock Exchange on April 9, from April 5 to April 8, 2024, China Jinmao's executive director Qiao Xiaojie purchased a total of 3.5 million shares at an average price of HKD 0.488-0.5 per share, involving approximately HKD 1.714 million. After the purchase, Qiao Xiaojie's latest shareholding is 5.834 million shares, increasing her stake from 0.02% to 0.04%