LOGAN GROUP Shares Surge Over 22% in Hong Kong Trading as Shenzhen Unit's 21 Bond Restructuring Proposals Gain Approval

Stock News02-04 10:40

LOGAN GROUP (03380) experienced a significant intraday surge of more than 22%. At the time of writing, the stock was up 18.52%, trading at HK$1.6, with a turnover of HK$42.9552 million.

On the news front, Shenzhen Longguang Holdings issued an announcement on February 3rd concerning major matters related to its corporate bonds. The announcement stated that, to advance the subsequent restructuring arrangements for the public market debt of Shenzhen Longguang Holdings Co., Ltd., bondholder meetings or controlling-holder meetings for asset-backed securities were convened within 2025 for 21 specified public market bonds/asset-backed securities.

These meetings reviewed and passed the "Proposal on the Overall Restructuring of the Current Bonds" or the "Proposal on the Overall Restructuring of the Current Asset-Backed Securities." Furthermore, LOGAN GROUP intends to adjust other options under the restructuring plan or the asset disposal arrangements applicable to some potential debt-for-equity swap assets stipulated in the "Restructuring Proposal."

The total assessed value of the potential debt-for-equity swap assets involved in the other restructuring options or disposal arrangements remains similar, both before and after the implementation of the adjustments mentioned in this announcement.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment