Embattled Chinese Developer Shimao Seeks Offshore Investors' Approval to Restructure US$11.7 Billion Debt
Monday, 25 March 2024, 15:10
Shimao's Restructuring Plan
The Shanghai-based firm, Shimao, has disclosed its intention to restructure a substantial debt amounting to US$11.7 billion.
Seeking Offshore Investors' Approval
In a filing to the Hong Kong stock exchange, Shimao is actively seeking approval from offshore creditors to proceed with the restructuring plan.
Efforts to Avoid Liquidation
By pursuing this path, Shimao aims to circumvent the threat of liquidation and stabilize its financial standing.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.