Times China Sets Shareholder Meeting to Seek Approval for Proposed Debt Restructuring; Shares Jump 1%

MT Newswires Live

07/10

Times China (HKG:1233) called a meeting of shareholders on July 25 to seek approval for its proposed offshore debt restructuring plan, according to a Hong Kong bourse filing Wednesday.

Shares jumped over 1% in morning trade Thursday.

The property developer is seeking shareholder approval to issue new shares and mandatory convertible bonds to creditors as part of the debt restructuring plan to settle claims worth $2.9 billion.

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