The market cap of Sino United Worldwide Consolidated Ltd (OTCPK: SUIC) increased by 72.08% to $ 113.57M after its stock closed yesterday’s session at $3.3900. Sino United stock had gained 72.08% during the session. A total of 33.50M shares of SUIC stock are outstanding, compared to 8.38M of float. In response to news that a credit facility had been renegotiated, SUIC stock rose.
Which credit facility was SUIC negotiating?
Sino United Worldwide engages in research and development, venture financing, and investments in private companies and public institutions. A number of technologies are used by SUIC in the development of its products and services, including Cloud Computing, Big Data, Mobile Payment, Blockchain, and Artificial Intelligence (AI). In order to create revolutionary products and services, SUIC intends to streamline existing processes and develop new business models.
An Addendum to Sino United’s Supply Chain Financing Agreement was signed with Seiki Digital this week. To finance Walmart’s $70 million orders, SUIC entered into negotiations on a $50 million revolving credit facility with a variety of Asian banks. This will enable Seiki to increase orders and provide continuous financing, which will allow Seiki Digital to expand.
How will SUIC move forward?
A number of Sino United (SUIC)’s financial offerings as well as those of its partner companies will be used to structure economic financing programs for Seiki Digital as the company expands overseas. In addition to this credit facility, SUIC is lining up other financing resources for Seiki Digital.