- Tantech Holdings Ltd TANH announced that its subsidiary, First International Commercial Factoring (Shenzhen) Co LTD, won a factoring agreement valued a RMB 50 million (about $7.8 million).
- The deal represents the company's first since announcing its intention to develop factoring opportunities.
- Under the agreement, First International will buy $7.8 million) of outstanding receivables and outstanding invoices at a discounted rate from the customer, helping improve the customer's cash flow and revenue stability.
- Price Action: TANH shares are trading lower by 6.93% at $0.8572 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
