Shandong Chenming Paper Holdings (HKG:1812) said its independent board members approved a debt restructuring plan involving its subsidiaries Shouguang Meilun, Chenming Import and Export, and Weifang Wood Chip Wharf at a special meeting, according to a Tuesday bourse filing.
The company said the restructuring plan still needs approval at the extraordinary shareholders' meeting.
Shares were last up 3% in Wednesday afternoon trading.
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