abrdn China Investment Company Ltd. Bank Facility -- Draw Down (8391J)
December 15 2022 - 4:48AM
UK Regulatory
TIDMACIC
RNS Number : 8391J
abrdn China Investment Company Ltd.
15 December 2022
15 December 2022
abrdn China Investment Company Limited (the "Company")
Legal Entity Identifier (LEI): 213800RIA1NX8DP4P938
Bank Facility - Draw Down
The Board of abrdn China Investment Company Limited (the
"Company") is pleased to announce that the Company has today drawn
CNH 40,000,000 (GBP4.67 million) of its unsecured multicurrency
revolving loan facility.
Nicholas Yeo, lead Portfolio Manager explained "we have recently
been observing recovering sentiment in Chinese equity markets,
driven by the accelerated pace of re-opening and increasing
liquidity support to the struggling property sector as the
government acts to address these key issues. Valuations remain low,
liquidity within the system remains abundant, key risk factors are
understood and acknowledged by the government, whilst external
geopolitical tension seems to be gradually easing. All these signs
give us reason to be optimistic for a sustained recovery in Chinese
equity markets. Today's loan drawdown will provide us with
additional capacity to invest in our high quality, high conviction
target companies."
For further details, please contact:
Evan Bruce-Gardyne: 07720 073216
abrdn Fund Managers Limited (Alternative Investment Fund Manager
to the Company)
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