[Caihua News] Junyi Global Finance (08350.HK) announced that on January 10, 2022, the buyer (Excalibur Finance Limited, an indirect wholly-owned subsidiary of the company) intends to purchase the seller (Enriched Goldenroad (H.K.).) Credit Limited) for a consideration of HK $6.0327 million, which will be paid by the Purchaser in cash upon completion.
These mortgages with a total principal of HK $5.6164 million for the assets to be acquired together with all outstanding interest (HK $416200 as at 31 December 2021).
The Group recently obtained a money lender licence through an inter-company wholly-owned subsidiary in September 2021 to enter the money lending business. As the money lending business is being developed, the Directors are of the view that it is beneficial for the company to start the business by acquiring existing mortgages from other money lenders, thereby enabling the Group to generate cash flow from such loans.