KWG Group's Winding-Up Petition Hearing Adjourned to Dec. 3; Shares Fall 4%

MT Newswires Live

10/23

KWG Group (HKG:1813) said the Hong Kong High Court has adjourned the hearing for a winding-up petition against the company to Dec. 3, according to a Wednesday Hong Kong bourse filing.

Shares of the property developer fell nearly 4% in late-morning trade on Thursday.

The petition, filed by Shandong Sunlight Xin Tiandi Micro-finance, concerns repayment of 642 million yuan in debt and 136.2 million yuan in interest.

The case was initially scheduled for a hearing on Oct. 22, according to the filing.

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