China Bicycle ordered to repay 7.5 mln usd loan from China Merchants Bank

SHANGHAI (AFX-ASIA) - Shenzhen China Bicycle (Holdings) Co Ltd said it has received notification from Shenzhen Intermediate Court that the court will enforce repayment of 7.5 mln usd in loans from China Merchants Bank.

	    The company also said its largest shareholder, Shenzhen Lionda Holding Co Ltd, used 51.51 mln of its legal person shares in China Bicycle as loan 

collateral, and these shares have now been frozen by the court.

	    This means all of Lionda's 95.3 mln legal person shares in the company have now been frozen, it said.

	    China Bicycle's A-shares last closed at 9.79 yuan, while its B-shares closed at 4.80 hkd.

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