Thursday, February 2

Evergrande will present a restructuring proposal

The Evergrande Group of China said the company aims to submit a preliminary restructuring proposal within the next six months, according to its announcement on the site. Hong Kong Stock Exchange website.

He said that the company held a conference call with its creditors on January 26 and reiterated its position that it will assess the conditions of the group with a view to formulating a restructuring plan for the protection of the rights of the interested parties.

To this end, the company is requesting its auditor to carry out the corresponding audit work, and will continue to listen carefully to the opinions and suggestions of creditors, according to the statement.

Previously, the promoter failed to comply with the guarantee obligation, which would possibly accelerate the expiration of its debts at the request of the creditors. Company shareholders and other investors are reminded to exercise caution when trading in company securities, the announcement says.

China Daily