Kaisa Group (HKG:1638) said it was giving bondholders more time to choose whether they would accept upcoming interest payments in shares instead of cash, according to a Hong Kong bourse filing on Wednesday.

Shares of the property developer were up nearly 2% in late morning trade Thursday.

The deadline for the company's consent solicitation across six series of restructured offshore bonds was extended to Dec. 28.

The solicitation covers the property developer's variable-rate senior bonds due between 2027 and 2032.

The proposal would permit the company to settle the minimum cash interest due on Dec. 28 in shares, with an option to do the same for the June 28 and Dec. 28, 2026, payments.

Approval requires consents from holders of at least 75% of each note series.