Red Star Macalline Shareholder Files Reorganization Application in Chinese Court

MT Newswires Live06-13

Red Star Macalline Group's (HKG:1528, SHA:601828) second-largest shareholder, Red Star Macalline Holding Group, filed a reorganization application in a Chinese court on June 7 amid trouble repaying its debts.

A Thursday filing on the Hong Kong bourse stated that since the two parties are independent in terms of business, the reorganization will not affect Red Star Macallineâs operations.

The shopping mall operatorâs actual controller, which is the State-owned Assets Supervision and Administration Commission of the Xiamen Municipal Peopleâs Government, will also not change.

The company will make further announcements related to the matter as and when needed.

Price (HKD): $1.44, Change: $+0.01, Percent Change: +0.70%

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