Country Garden (HKG:2007) said its offshore debt restructuring scheme has been sanctioned by the Hong Kong Court, according to a Dec. 5 Hong Kong bourse filing.
Shares fell nearly 2% in Monday afternoon trade.
The developer said the court order approving the scheme was issued on Dec. 4 and registered on Dec. 5, making the scheme effective that same day.
Country Garden said the scheme's effective date is not the same as the restructuring's overall effective date, which will only occur once all remaining conditions for the restructuring have been met or waived.
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