Alco Holdings (00328) once fell 33%, as of press time, it fell 28.32%, with a price of HKD 4 and a turnover of HKD 1.4492 million.
According to the Zhītōng Cáijīng APP, Alco Holdings (00328) once fell 33%, as of press time, it fell 28.32%, with a price of HKD 4 and a turnover of HKD 1.4492 million.
On the news side, Alco Holdings announced that on June 21, the company received a winding-up petition filed by Shanghai Commercial Bank against its former indirect wholly-owned subsidiary, Alco Electric, in the High Court of Hong Kong. The petition was based on the company providing guarantees for all overdue and unpaid loan debts owed by Alco Electric. The overdue and unpaid loan debt totaled HKD 2.6245 million and USD 2.521 million, together with its accrued default interest. The hearing of the petition is scheduled for August 28.
The announcement stated that the company will actively negotiate a feasible and practical settlement plan with Shanghai Commercial Bank. At present, the company holds reservations about the amount of overdue and unpaid loan debt of Alco Electric mentioned in the petition. The company will further seek legal advice and take all necessary actions to protect its legitimate rights and interests.