HKG:0818

2 stories mentioning HKG:0818Updated 41d ago

Every FINWIRES story that references HKG:0818, newest first.

Hi Sun Technology's Affiliate Cloopen Enters Go-Private Deal

Hi Sun Technology China (HKG:0818) said its affiliate company Cloopen entered into a definitive agreement to go private by merger, according to a Tuesday filing with the Hong Kong bourse.Hi Sun's shares gained nearly 5% in morning trade on Wednesday.The payment processor owns 55.7 million class A shares in Cloopen, a provider of cloud-based communication services in China that trades in the OTC markets in the US.According to the merger agreement, class A shareholders of Cloopen will be entitled to receive $0.4940 per share in cash.Hi Sun said it was reviewing the terms of the merger.Cloopen shares rose 67% in the OTC market on Tuesday. It was delisted from the New York Stock Exchange in 2023 due to filing delays.

HKG:0818

Asia62d ago

Hi Sun Technology Sells 169 Million Yuan Asset-Backed Securities

Hi Sun Technology (China) (HKG:0818) issued 169 million yuan of asset-backed securities divided into two series, according to a Wednesday Hong Kong bourse filing.The priority tranche comprises 143 million yuan of 2.6% bonds, while the subordinated tranche comprises 26 million yuan of securities with an unspecified coupon rate, each falling due March 31, 2027.The priority tranche, issued to qualified institutional investors in China, will be traded on the Shanghai Stock Exchange, with the subordinated tranche issued to Ronghui Zhida Factoring or its designated affiliates.The firm will use proceeds as general working capital of the fintech services business segment.

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