MFC Bancorp Ltd. (NYSE:MFCB):
MFC Bancorp Ltd. Receives Approvals Respecting Arrangement.
The company is trading up by 1.14 percent from yesterday’s close.
MFC Bancorp Ltd., formerly MFC Industrial Ltd., launched on November 3, 2004, is a finance and supply chain company. The Company facilitates the working capital and other requirements of its customers. Its business activities involve customized structured financial solutions and are supported by captive sources and products secured from third parties. Its business is divided into two segments: Finance and Supply Chain, which includes its marketing activities, captive supply assets, structured solutions, financial services and proprietary investing activities, and All Other, which encompasses its corporate and other investments, and business interests. The Company does business in multiple geographies and specializes in a range of industrial products, such as metals, ceramics, minerals, various steel products and ferro-alloys, and wood products. It also offers its customers and suppliers a range of structured finance solutions, including factoring, inventory, financing, forfaiting, marketing, and other types of risk management and financing solutions..
It is trading at $1.78 a bit higher than the 50 day moving average of $1.62 and slightly below the 200 day moving average of $1.84. The 50 day moving average was up $0.16 and the 200 day average went down $-0.06 or -3.16%.