2023-08-13 09:17:00
Chinese real estate developer Bei Gui Yuan will suspend the trading of 11 onshore corporate bonds from the beginning of the week on the 14th. It was revealed in a document submitted to the Shenzhen Stock Exchange on the 12th. A decision on resuming trading will be made at a later date. The photo is the company logo. FILE PHOTO: Shanghai, China June 9, 2023. REUTERS/Aly Song
[北京 １２日 ロイター] – Chinese real estate developer Big Green Garden will suspend trading of 11 onshore corporate bonds from the 14th of the week. It was revealed in a document submitted to the Shenzhen Stock Exchange on the 12th. A decision on resuming trading will be made at a later date.
The company said on Wednesday it had failed to make interest payments on two dollar-denominated bonds due on Thursday, totaling $22.5 million. Speculation that the company is preparing for debt restructuring has risen, and the stock price has been updated to the lowest price on the 11th.
The company has set up an ad hoc working group led by its chairman to deal with the current impasse, according to the filing.
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