LOGAN GROUP Shares Surge Over 6% as Restructuring Advances with Cayman Court Application

Stock News

05/15

LOGAN GROUP (03380) rose more than 6%, with intraday gains reaching nearly 20%. At the time of writing, the stock was up 5.51% to HK$1.34, with a turnover of HK$68.5438 million. On the news front, the company recently announced it has applied to the Grand Court of the Cayman Islands for a hearing regarding its scheme of arrangement. This step seeks approval to convene a meeting of scheme creditors to consider and approve the Cayman scheme, with or without modifications. The announcement also stated that the company has issued a "Practice Statement Letter" related to the Cayman scheme via a transaction website.

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At the time of writing, the stock was up 5.51% to HK$1.34, with a turnover of HK$68.5438 million. On the news front, the company recently announced it has applied to the Grand Court of the Cayman Islands for a hearing regarding its scheme of arrangement. This step seeks approval to convene a meeting of scheme creditors to consider and approve the Cayman scheme, with or without modifications. 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