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Far East Development's guarantee for the QWB development project approved by the Stock Exchange
Viewpoint Network News: On April 8th, Far East Development Limited issued a notice to provide additional clarification regarding the guarantee matter for the QWB development project. According to the announcement, the company has obtained approval from the Hong Kong Stock Exchange for its application under Rule 14.20 of the Listing Rules.
The Hong Kong Stock Exchange has agreed that the cost ratio resulting from the guarantee has shown an abnormal outcome, and the suggested alternative cost ratio based on the company’s net asset value is appropriate. Therefore, under Chapter 14 of the Listing Rules, this guarantee will constitute a discloseable transaction for Far East Development.
Disclaimer: The content and data of this article are compiled by Viewpoint based on publicly available information and do not constitute investment advice. Please verify before use.